| By Nocalguy (Nocalguy) on Friday, March 28, 2003 - 11:13 pm: Edit |
They say that the interest on this loan is variable, but will not exceed 9% which is not that great in today's world. Does anyone know what the ACTUAL interest rate for this loan is?
| By Calmom (Calmom) on Saturday, March 29, 2003 - 02:18 am: Edit |
Right now, it's 4.86%. Go here for info:
https://www.parentanswer.com/default.asp
| By Nocalguy (Nocalguy) on Saturday, March 29, 2003 - 02:41 pm: Edit |
Thanks! Is it going to be lower for my parents since the terms of this loan expires in July of this year?
| By Numark (Numark) on Saturday, March 29, 2003 - 10:27 pm: Edit |
The interest rate really depends on the average interest rate on a certain government-issued investment (the T-Bill, if you happen to study that sort of thing). Because of the general economic instability now, it's really hard to say what the interest rate will be. It could be higher or lower depending on what the market does between now and then.
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