Help - Search - Members - Calendar
Full Version: Student Loans
Soxtalk.com > Special Interest Forums > SLaM
Tex
I just received the notice I was eligible to consolidate my student loans. It seems like an easy decision to go with the consolidation.
kapkomet
It is right now but you better hurry. The rates double on July 1.
MuckFinnesota
How easy is it to get loans for grad school? I'd imagine it is just like getting loans for undergrad, but I don't know that for a fact.
dasox24
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?
Jenksismybitch
QUOTE (MuckFinnesota @ Mar 18, 2012 -> 10:38 AM) *
How easy is it to get loans for grad school? I'd imagine it is just like getting loans for undergrad, but I don't know that for a fact.


Yes, it's the same process basically.
Jenksismybitch
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).
dasox24
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.
Iwritecode
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.
southsider2k5
QUOTE (kapkomet @ Mar 17, 2012 -> 09:17 PM) *
It is right now but you better hurry. The rates double on July 1.


Where are they at now?
kapkomet
3. to 3.25%, generally, going up to 6. to 6.5%.
NorthSideSox72
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.
Jenksismybitch
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% sad.gif
bigruss22
My ex's first year of student loans is something near or over 10%, she was getting them at the worst possible time in 2008.
farmteam
QUOTE (bigruss22 @ Mar 21, 2012 -> 04:55 PM) *
My ex's first year of student loans is something near or over 10%, she was getting them at the worst possible time in 2008.


Ahem. Don't get me started.
SoxFan1
I'm terrified about my upcoming loans. My 6 month grace period is out in June.
Tex
I am 6.75 but with the consolidation they will drop .5
This is a "lo-fi" version of our main content. To view the full version with more information, formatting and images, please click here.
Invision Power Board © 2001-2014 Invision Power Services, Inc.