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Fixed or Floating?

A photo of kayleerae kayleerae
What interest rate is affixed to your student loan? Which would you recommend? I'm on Canada Student Loans and the site says you get to choose when you finish school so I'm trying to figure out which is best.
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A photo of threepointonefour threepointonefour
Ideally you pay off your student loan before you finish your final year, because the great thing about those student loans is that they have no interest unitl then. If that is not possible, then interest will start after you graduate. Now, you should really talk to a finacial services rep (most likely at your bank/credit union) but seeing as interest rates are at historically low levels and the economy is picking up, which will cause interest rates to rise again, I would suggest fixed. However, I'm not sure the spread between fixed an variable, so once again, go to a proffessional
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A photo of mynameismattgotmlgo mynameismattgotmlgo
Hard to say. That's something that you can only really consider when the time comes.
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A photo of MReiser MReiser
Talking to someone financially savvy is definitely the best way to approach this question. Most banks have employees that would be willing to meet with you and discuss your financial options.
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A photo of moments moments
Go to a counselor at your school, public forums are usually not the best financial advisory for large amounts of money like student loans.
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