Is Educational Direct a good company to utilize for loan consolidation?

Question

I recieved an consolidation offer from Educational Direct that has an interest rate of 4.875% at the highest and 3.625% at the lowest (depending on my payment choices). Has anyone had experience with this company? Does this sound like a good consolidation offer considering the current low interest rates?

Answer 1

They sent me (and still do actually) plenty of offers. Like you, it was not a company that I had any experience with. No one used it, so I elected to go with Sallie Mae, as my loans had already been sold to them, and their consolidation rates were the same (this was back in 2003). If I were you, I'd stick with Sallie Mae. Though I haven't heard anything bad about Educational Direct, I haven't heard anything good either...and unknowns with something this important are a bit scary to me. :)

Answer 2

With all the fuss about interest rates increasing, a lot of new legitimate financial consolidators are taking advantage of the timing and offering some very good deals. As with all deals, I'd read the fine print and ask tons of questions before signing.
Maybe check out some forums online? fatwallet.com has a financial forum with lots of disussion on student loans. and loaning institutions

Answer 3

Sounds okay, but check out some others.

Myself, I am a grad and need to consolidate my loans before the deadline! So I went on a google hunt (I mean search ;). But eventually, I did find a site that has rated a few student loan consolidators, and says they have checked them out. Here's the web page: http://lendersrated.com/studentloans.htm...

Hope it helps you...
karateross

Answer 4

if you have federal gov loans, they were offering 3.125% through june....not sure what the rate is now