[saalweachter]

Pay close attention to politics.

The reason your federal loans don't have an ungodly interest rate right now is that as part of the economic stimulus student loan interest rates were lowered. The temporary extensions have kept it down since then, but they could jump back up at almost any moment.

[joeblossom]

That jump is for new loans, fortunately. All previous federal loans are locked in at the rate they were originally signed for.