mrman617 asked:


I recently consolidated a defaulted student loan and need to purchase a new vehicle. Approximately how much of an impact on my credit score will the consolidation have the day after it hits my credit report? I’m just curious if anyone could ballpark the number of points it could jump, with no other factors considered.

Omario asked:


I ‘m writing because my wife and I need to know the best way to consolidate her college loans. My wife graduated in Dec. and its time to pay the piper. She has some low interest Sallie Mae loans but the problem is the remainders of the loans are unsubsidized Stafford loans with Citibank. $26,000.00 at an average 6.8%. The monthly payment will be difficult for us to make. We’d like to consolidate but don’t know where to look for the lowest rate. I know some bills in congress are aimed at lowering these rates. We have received solicitations from different loan brokers but they don’t leave me feeling like they’re looking out for us. Is it worth it to consolidate now if we’ll only be switching lenders when (if) the bill in congress is past? Where can we find information on student loan consolidation rates in an unbiased, consumer advocate atmosphere? Thanks for your help

naturegirl asked:


What if I decide to go to graduate school? How will that effect the loan consolidation?

tealight96 asked:


I am a co-signer on my husbands student loan her has 2 with sallie Mae”hate them” The interest rate is crazy and basically we just want to be done with them. I have read about consolidation student loans and it sound like it would be a great fit for us. my question is what are some companies that do consolidation and since i am the cosigner and my name be taken of if he consulate’s

mrxalex319 asked:


So I have 3 small student loans with AES success. Since I heard student loan rates dropping, I was planing on consolidating and making it fixed. However, they do not offer that service! Is it possible to go through a different lender to consolidate the loan? any suggestions?

PEARL asked:


i need some info about “debt-consolidation loans”. im trying to get a loan and i’ve heard that these are have low and fixed rate of intrest. but i don’t know if they are staffurd loan or not.[federal pays the intrest while im at school?]
btw if anybody know a good student loan let me know, so i can apply…

Hiro Nakamura asked:


I want to know if anyone else has been screwed by NextStudent. Originally, I was quoted to have a 5.0 fixed interest rate for consolodating my student loans. After some time went by and the loans got processed… they said that “Xpress Loan Servicing” will be my lender and the interest rate that is shown on my bill is now 6.625%. Can anything be done about this? What can I do?

Ashlee H asked:


I’m looking to consolidate my student loans. All my loans right now are NJ CLASS loans and are at around 6.1% …which is low, but in this climate I’m certain I’ll be able to find lower than 5%. I’m interested to know what are the best banks/financial institutions to work with (from your experience and knowledge), and should I wait for rates to go lower? I know rates are going down, and fast… how long do you guys feel I should hold-out for? I’m pretty sure credit scores factor in, but in any case I’m certain it’s “good” to “excellent” (I haven’t actually checked but I have no outstanding credit card debt and I’m 99.999% on time/early with payments on all my credit lines).

naingzaw asked:


From what I understand, loans consolidation means to stabilize the interest rate from going up right? What if the government cut the interest rate? I mean when I consolidated my student loans last year it was 6.25%, now I just heard that the government cut down the rate to nearly half. So do I have to pay back my loans with 6.25% interest rate due to the consolidation or the new low rate? Thanks

Diana asked:


I am about to go to graduate school in the fall so I will be deferring my student loans. Right now I have a Stafford and Perkins loan. Should I consolidate these before deferring?
Also, when deferring are my interest rates locked or do they increase?
Anyone have a real answer or experience?