Information for parent and student would be helpful.
2007-05-07 05:22:41 · 0 answers · asked by soulsearching 3 in Education & Reference ➔ Financial Aid
Try Sallie Mae's website - they've got an extensive FAQ, and a calculator to see how much you could save. They have info on both federal and private consolidation, and info for both parents and students.
http://www.salliemae.com/after_graduation/manage_your_loans/consolidate_student_loans/federal/student_loan_consolidation.htm
2007-05-07 07:50:03 · answer #1 · answered by Anonymous · 1⤊ 0⤋
A student loan consolidation loan is typically NOT a good idea for anyone except the lender.
Yes, it may lower your payments, but in most cases, it does so because it stretches the payments out over a longer period of time. When you do the math, you'll discover that you're actually going to be paying more money in interest charges than you probably do to your current lender.
2007-05-07 05:28:34 · answer #2 · answered by Scotty Doesnt Know 7 · 0⤊ 1⤋
Your school should offer Exit Loan Counseling. This is usually offered online or in a forum setting. Please be sure to do this as valuable and accurate information about student and parent loans, including consolidation, can be obtained here. Ask the financial aid office for assistance. Hope that helps.
2007-05-07 05:58:36 · answer #3 · answered by Jdub 4 · 0⤊ 0⤋