Name: Fixed Or Variable Rate, Which Is Better?
Uploaded: 2020-03-16T01:15:41.000Z
Duration: 3 min 32 s
Description: Thousands of YouTube videos with English-Chinese subtitles! Now you can learn to understand native speakers, expand your vocabulary, and improve your pronunciation...

Jess is with us in Springfield, Massachusetts.

Um, I'm trying to I'm thinking about consolidating my student loans.

I paid off, like 15,000 last year on them, and I still have about 22,000 last 20 to 3.

And I have four federal Little one will not little.

They are 12,000 and then I have to private, which are 9500.

And I didn't know if I should consolidate them and do like a variable or fixed rate.

And I still have about 5000 on the car left.

You cannot consult the day government and private, they won't go to gather.

But you can do to the to the two government ones.

And the only reason to do that would be if you got a lower rate.

I can get a variable at four or fixed at 5 to 7.

And right now, my two private student loans is 4005% and then 5000 at 9%.

But that that the 4% variable wasn't for private, was it Yeah, it waas.

Uh, the six would be around five or 7% 5 to 7%.

Well, you've already got five fixed, right?

The only reason that consolidate just to save on interest, it would never be.

You never go up in interest, because if you take two individual loans that total 9500 and you pay $1000 a month on that or you take one loan, that's 9500.

It pays off in exactly the same period of time.

If it's exactly the same interest rate, so two loans in tow.

One is never a reason to consolidate anytime.

But you might do it if it saved you interest.

You're not going to save on this to buy a cup of coffee.

How fast you're gonna This 22,000 paid off?

Okay, So half of the year, the 95 hundred's gone right?

And so you're probably gonna pay the federal But either way, you're saving your saving.

It just doesn't make any mean 1% of 995 $195 for the whole year.

And you're not gonna saving more than that because I would never go to Variable.

And in that case, you're not gonna save enough money to mess with this.

The fact that you're pissed off a debt and beaten in the face and hitting it with a baton cut in there with a knife.

Yeah, it's just it's just not interest rate.

So we're talking about it just is not is not worth the trouble.

I would just just get mad, turn it up, cut back on something around the house, and let's knock it out as fast as we can.

Subtitles ListPlay Video

Fixed Or Variable Rate, Which Is Better?

individual

deserve

period

mess