<prompt> Human: My father believes that 6.8 interest on my loan is super high and I should get it refinanced, or ask for a lower rate because he can get an even cheaper IR on other loans. I do not have any experience with typical IRs so I think he is being overdramatic. This site shows the fixed rates Can you request a refinance or IR adjustment on a loan? Will that affect my loan payments or anything? I personally dont care, but just curious.  <response>: 6.8 is the rate for federal student loans. No, this cannot be negotiated. If your dad wants to take a loan against his house to help pay for your school then great. Secured loans, andor loans taken out by people with an established credit history generally have lower rates. Student loans are unsecured debt given to 18-year-olds. Its amazing their rates are as low as they are, considering and only the case because the government steps in to make it possible. 