Student Loan Consoliation

[Reckoner]

With a month to go before interest rates go up, where are you guys looking to Consolidate your loans? I just decided to go with ScholarPoint, which offers .5% off for auto-debit, and another 1% off after the first 24 payments are completed on time.

How about the rest of you?

 

[Gunslinger08]

Thanks for reminding me. I'm consolidating now with ScholarPoint.

 

[Mo0o]

I have federal loans that go through Sallie Mae. Do i need to do anything? having it go through one company mean it IS consolidated right?

 

[Nutdotnet]

Originally posted by: Mo0o
I have federal loans that go through Sallie Mae. Do i need to do anything? having it go through one company mean it IS consolidated right?

Not necessarily.

Consolidating your federal loans typically means locking a specific rate for the life of the loan. Currently, your federal loans have a variable rate that changes every July.

I locked in my federal loans last year @ around 2%...my consolidation loan were through the same lending company that I used for my federal loans.

 

[Mo0o]

Originally posted by: Nutdotnet

Originally posted by: Mo0o
I have federal loans that go through Sallie Mae. Do i need to do anything? having it go through one company mean it IS consolidated right?

Not necessarily.

Consolidating your federal loans typically means locking a specific rate for the life of the loan. Currently, your federal loans have a variable rate that changes every July.

I locked in my federal loans last year @ around 2%...my consolidation loan were through the same lending company that I used for my federal loans.

Oh i c, but if I'm still in school and Ill be taking out more loans next yaer, should I consolidate what I have now or should I wait until im out of school? Since technically right now my loans dont have interest...