I have an unsubsidized federal student loan. Ever since I graduated, I have been inundated with offers to consolidate my student loans under a usually better or fixed rate. But I have been strangely reluctant to take any of them up on it.
I feel like the feds were the only ones willing to take a risk on me pre-college. Now that I’ve graduated with a decent degree and proven that I’m not a complete slacker, all these loan agencies crawled out of the woodwork. Where were they when I was but a high school senior?
It strikes me as a little dishonest to say, “Thanks, feds for all that trust and money. Now you can have it all back while I go pay interest to someone else.” I realize that it’s my right to as part of the contract (and don’t get me wrong, it’s a right I reserve to use in case my variable rate becomes unreasonable).
But as long as my rate is within bounds, I feel like the feds deserve my patronage. I’d label such loyalty ethical, but it has been brought to my attention that it may just be silly.