My son recently completed a masters program where he incurred $24K in student loans. loan repayment began in July, with a monthly payments of about $400, and an interest rate of 6.8% for 10 years. he has tried to locate a loan with a lower interest rate but has been unsuccessful.
Do you have any information or advice on how he can obtain lower interest rates?
His best bet, if these are government backed student loans is to look into the Income Based Repayment Program, IBR, to get a payment based on his income.
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