system
A chat on subreddit /r/wallstreetbets
human
&gt; All my variable loans are at like 3.7% for school. 
  
 Lol... for now.

gpt
I mean they don't change the interest rate on existing loans when the federal rates change. When you get a loan you lock in the interest. The reason you can refinance down is because if the loan provider wasn't going to let you refinance then someone else would jump in and buy out your loan to get the lower rate. Obviously that only works in one direction though.