I read that student loan interest rates will go up 2 percents in July.
2006-06-14 09:19:48 · 5 answers · asked by Eric Inri 6 in Business & Finance ➔ Credit
Consolidating your loans will have no bearing on your credit rating - as long as you continue to pay on a timely basis. If you've missed the lower rates over the last several years, act quickly and lock in a good rate if you can.
By the way, I would recommend if you can get away from Numb Nuts, I mean Nelnet, do so. They are a big pain to work with. I have found the Department of Education actually much easiler with Sally Mae a close second. Good luck.
2006-06-14 09:23:57 · answer #1 · answered by c_schumacker 6 · 1⤊ 0⤋
1
2016-10-24 17:16:48 · answer #2 · answered by Cyndy 3 · 0⤊ 0⤋
Yes and no - you should refinance to get a better interest rate, yes.
On your credit report, refinancing will show a new loan and the close of your other loans. The amount of outstanding loans will remain the same. It might knock your score a point or 2, but it will recover quickly.
Refinance and save some $$$.
2006-06-14 09:25:32 · answer #3 · answered by dxychk99 1 · 0⤊ 0⤋
So long as you do not make many other credit inquiries on other days (i.e. car loan, home loan, credit cards, etc.) you'll be fine.
2006-06-14 09:26:03 · answer #4 · answered by Mister_fin 3 · 0⤊ 0⤋
no but you can only consolidate them 1 time
2006-06-14 09:23:58 · answer #5 · answered by golferwhoworks 7 · 0⤊ 0⤋