2006-10-29 12:04:18 · 7 answers · asked by TenaciousT 1 in Education & Reference ➔ Financial Aid
It's usually worth it to get the convenience of having just one bill and also lengthening your repayment term. Sallie Mae offers up to 30 yrs to repay after you consolidate. This gives you the cushion of a lower monthly payment, but you can still pay it off early if you choose to. (Paying over 30 yrs will increase the total amount you spend on the loan). For more info and an online calculator for student loan consolidation see http://www.salliemae.com/consolidation.
2006-10-30 05:16:36 · answer #1 · answered by Anonymous · 2⤊ 0⤋
Yes! Student Loan Consolidation is a practical student loan debt consolidation service that enables you to save money and lower interest rates by consolidating all of the student loans you received in college into one single loan, with one single payment. Consolidation loans are readily available from education loan lenders and loan holders. Consolidate student loans today and lower your payments by as much as 60%.
Visit: www.schoolwork.org/student-loan-consolidation.html
2006-10-31 00:57:27 · answer #2 · answered by bluedevilstudent 2 · 0⤊ 0⤋
ok, initially, regardless of in case you consolidate you're able to use the deferment once you flow back to college, it is your federal perfect. 2d, you have your loans unfolded between 4 distinctive lenders, once you consolidate which would be one, which permits your credit, much less open lines of credit. 0.33, no count what corporation you consolidate with, your fixed interest cost would be a similar, that's figured via a federal formulation all companies might desire to maintain on with. If absolutely everyone tells you different smart, they're mendacity or misinformed. Fourth, the main distinction between companies are discounts and rebates, yet maximum of them count on you going into reimbursement, so those won't count for you on account which you would be in deferment, and once you graduate you will choose for to re-consolidate besides. 5th, there is often a raffle that fees of interest will flow down, yet 3 years in the past the variable cost on federal loans became at 2.seventy seven%, now they're at 6.sixty two%, and it would not appear like the fees are occurring interior the subsequent ten years. yet, like I stated previously there is often that possibility. wish that helps
2016-11-26 02:29:32 · answer #3 · answered by baksi 3 · 0⤊ 0⤋
If you have completed your degree and don't have a fixed rate student loan, it is completely worth it. In addition to saving money on writing more than one check per month for student loans, it also saves you from your student loan payments increasing due to a federal interest rate on loans hike.
2006-10-29 15:12:34 · answer #4 · answered by dawncs 7 · 0⤊ 0⤋
Yes, definitely. The worst thing you can do is to forget to pay one of your loans one month and wreck your credit score. Its easier to pay back if its consolidated into one payment each month.
2006-10-29 16:53:23 · answer #5 · answered by Yumes 3 · 0⤊ 0⤋
have one less payment to fret about only one would be worth it to me and your only paying charges on the one but if i don't have cash to have it i don't buy it student loans i know that's different but consolidate have only one payment if you can just my opinion
2006-10-29 12:15:17 · answer #6 · answered by bashful 3 · 2⤊ 0⤋
See the diffrence which one pay less.
2006-10-29 16:17:16 · answer #7 · answered by united 1 · 0⤊ 0⤋