Question: Hello, I have a student loan from many years ago.

It is at 13%.

I can’t get it consolidated at the new 6% rates, unless I *add* more student loan debt.

Does anyone know the simpliest way to take on new student loan debt?

I was thinking of finding some computer courses over the internet or something.

Any ideas would be greatly appreciated.

Answer: It doesn’t sound like you have a federally backed student loan – the interest on Staffords has been capped at 8 1/4% for many years.

It doesn’t seem sensible to take out more debt. Why don’t you just see what you can borrow from a bank or other lender at todays lower rates and pay off the old balance. It may not be worth it to add more debt just to get a lower interest rate, when you may be able to get cheaper money elsewhere This is from the Kiplinger web site, I hope it helps.

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