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best student loan consolidation places?

S

skim milk

Diamond Member
I have mostly federal subsidized loans and I thought that the interest rates would be a lot better.

I have perkins, federal direct student loan, etc.

the interest rates vary from 5-10% WTF! I thought it would be around 2% or something, being federal loans and all.

 
I dont think any bank is going to consolidate your student loans. They are not getting into that business.

I may be wrong. If you find one tell me.
 
I'm just sticking with my 5%, not worth consolidating unless I can find a 2-3% rate (unlikely)
 
Originally posted by: Spartan Niner
I'm just sticking with my 5%, not worth consolidating unless I can find a 2-3% rate (unlikely)
Click to expand...

that's what I'm looking for

my interest rate avg for my federal student loans is around 8%
 
Originally posted by: skim milk
Originally posted by: Spartan Niner
I'm just sticking with my 5%, not worth consolidating unless I can find a 2-3% rate (unlikely)
Click to expand...

that's what I'm looking for

my interest rate avg for my federal student loans is around 8%
Click to expand...

Wow, my unsubsidized private loans are around 4% right now. My federal is fixed at 2.375%.
 
Originally posted by: iamwiz82
Originally posted by: skim milk
Originally posted by: Spartan Niner
I'm just sticking with my 5%, not worth consolidating unless I can find a 2-3% rate (unlikely)
Click to expand...

that's what I'm looking for

my interest rate avg for my federal student loans is around 8%
Click to expand...

Wow, my unsubsidized private loans are around 4% right now. My federal is fixed at 2.375%.
Click to expand...

yeah, it's crazy how mine is so high

I searched and Perkins is set at 5% and Direct Federal Loans is around 7.8% and I have another one that's a little higher. My credit card interest rate is almost as low

all through undergrad, I thought those loans were a deal. I was wrong 🙁
 
bump

Anybody know a place right now?

I have 2/3 loans which can be consolidated, and I'm looking to lock in the 2.4% rate...
 
Originally posted by: Ns1
bump

Anybody know a place right now?

I have 2/3 loans which can be consolidated, and I'm looking to lock in the 2.4% rate...
Click to expand...

lock that shit up, and tell me where you locked it up so I can too...
 
I'd check with Education Services Foundation... They can consolidate your loans as long as one instituion doesn't hold all of your loans.
 
your loans must be taken out before 2006. after that it was all fixed.

why bother with loan consolidation with the new income based repayment plan?
 
Originally posted by: ViviTheMage
Originally posted by: Ns1
bump

Anybody know a place right now?

I have 2/3 loans which can be consolidated, and I'm looking to lock in the 2.4% rate...
Click to expand...

lock that shit up, and tell me where you locked it up so I can too...
Click to expand...

bumped the student loan thread on FWF as well; I will let you know if I get a good answer 🙂
 
Originally posted by: DaWhim
your loans must be taken out before 2006. after that it was all fixed.
I have 2 loans before 2006 and 1 loan missed the deadline by 3 months 🙁
why bother with loan consolidation with the new income based repayment plan?
??? I'm looking to pay less interest overall, so unless you have something new for me, income based repayment = greater interest over the life of the loan (most likely)
Click to expand...

 
Forget that last remark... apparently they have stopped consolidating as well.

The student loan industry is in a bit of a weird state right now. The new administration has considered completely doing away with the private sector of student loans so a lot of companies don't know if they will be around for much longer.

<a target=_blank class=ftalter...Consolidation.html</a>
 
Originally posted by: joutlaw
Forget that last remark... apparently they have stopped consolidating as well.

The student loan industry is in a bit of a weird state right now. The new administration has considered completely doing away with the private sector of student loans so a lot of companies don't know if they will be around for much longer.

http://www.esfweb.com/Consolidation.html"><a target=_blank class=ftalter...Consolidation.html</a></a>
Click to expand...

Yes....the industry is in shambles now. Finding a place to consolidate is very hard. Sallie Mae has even stopped. Student loans are high risk. Banks do not want high risk even though, in reality, students loans are lower risk. Lots of companies are only letting their customers go on forbearence for 3 months at a time (to make money off forbearance fees).

The fact of the matter is there alot of people who got financial aid slashed. This began in around 2004. This resulted in more private loans... to the point where companies like Sallie Mae had to hire more people just to process loans and process loans only. To lots, putting college on hold was not an option they wanted. Now, these people have graduated and they are defaulting b/c there are no jobs.
 
Originally posted by: Gibson486
first thing....goodluck finding a place to consolidate. Sallie Mae stopped for now.
Click to expand...

That sucks. I have two schools I had them for. One Just finished the grace period, the other just began as of last month (I transferred schools). I should ask, just in case.
 
I spent hours reading through the Student Loan Consolidation threads at Fatwallet when I was shopping for my consolidation years ago: Link


I locked into 3.25% with Direct Loans. I called and considered other places, but there was no incentive (no better deal) and I trust the U.S. Department of Education more than I trust a private company. I paid off a small ($1800) loan that was something like 8% and consolidated the rest.

I've been pretty happy with Direct Loans, and I'm over halfway paid off! I'd go with them again.
 
i consolidated with direct to lock in some ridiculous rates back in 2005. i then took out loans for the 2005-2006 school year, which are not consolidated. they're down to 2.48% right now, so i'm going to try to consolidate those with direct as well.
 
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