College Loan Consolidation Help...

[BChico]

I have three types of loans:

Signature Loan $14,490.00
Federal Stafford Loan $17,125.00
Federal Perkins Loan $6,000.00
Total $37,615.00

What is the best way to consolidate these loans? I was reading some stuff that said you cant consolidate federal and private loans, is that true? Is there a way to put everything into one loan with one payment?

I am graduating in May, the grace on staffords is 6 months and 9 months for perkins.

Thanks

 

[BChico]

TTT

 

[iamwiz82]

You can consolidate federal and private loans, but you lose the benefits of the federal ones, so there is no point.

 

[DAGTA]

Originally posted by: iamwiz82
You can consolidate federal and private loans, but you lose the benefits of the federal ones, so there is no point.

To expand on this:
You can consolidate all of your loans into one private loan but you can't consolidate your private loan into one big federal loan. So, you'd probably be better off keeping them separate since you get better benefits with the federal loan than you will with any private loan.

I'd say consolidate the federal loan (s) into one new federal loan with a locked interest rate (if you can lock in low).

 

[Gunslinger08]

I hate that I can't consolidate anywhere but with my lender.. stupid rules.