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Student Loans


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QUOTE (dasox24 @ Mar 18, 2012 -> 09:12 PM)
Yeah, I can consolidate mine too but haven't yet. I also think it seems like the easy route to go. What's yalls opinion?

 

Just have to be sure it makes sense depending on your situation. If you've got some loans at a really low interest rate and some high it might not make sense. If you consolidate you're also potentially extending the length of the loan (not a big deal if you just started paying it back, but could be if you've been paying for 6-7 years).

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QUOTE (Jenksismyb**** @ Mar 19, 2012 -> 10:24 AM)
Just have to be sure it makes sense depending on your situation. If you've got some loans at a really low interest rate and some high it might not make sense. If you consolidate you're also potentially extending the length of the loan (not a big deal if you just started paying it back, but could be if you've been paying for 6-7 years).

All of my loans have the same interest rate. And I've only been paying back for 4 months.

 

Given that knowledge, consolidating would seem to make sense, right? It just seems easier to pay one lender instead of two.

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QUOTE (dasox24 @ Mar 19, 2012 -> 10:37 AM)
All of my loans have the same interest rate. And I've only been paying back for 4 months.

 

Given that knowledge, consolidating would seem to make sense, right? It just seems easier to pay one lender instead of two.

 

As long as you're consolidating into a lower interest rate, then yes.

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QUOTE (NorthSideSox72 @ Mar 21, 2012 -> 08:24 AM)
My wife's loan started into payments in 2004, and somehow, she got a rate that was 2.75%. Then after 5 years of on time payments, it went down to 1.75%. Not a typo.

 

I won't be paying that baby off for a while. That's like inflationary-level free money.

 

Yeah i've got a few of those from undergrad. Unfortunately my law loans are at 6.75% :(

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