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Originally posted by Supple Cow
I saw that somebody else mentioned locking their loans, but I have a simpler question that whether or not I should do it:
HOW do you do it? Do you have to consolidate your loans? And can you do this for private as well as government loans? I currently have two loans (one private) and I keep hearing about how the economy is so bad right now that it's a great time to lock my rates. I really don't know anything about this, so I would appreciate any information about how this works. Thanks!
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First off, I am going to assume that you are speaking about educational loans, if not, just specify the type
To be honest, you probably would want to speak with the lenders, as they would be able to tell you much better than I. However, although I am unfamiliar with educational loans, mortgage rates have increased dramatically in the last few weeks, so you may want to check into it quickly.
Wish I could help more, but I don't want to give you any bad information
If there is anyone out there with more student loan experience (I never took one out) please feel free to help Supple Cow Out...