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Student loan consolidation
Wednesday, January 23, 2008
I have three student loans. I want to consolidate them. how do I do this and what company should I use?
Posted by Tim at 00:46:39
Wednesday, January 23, 2008
If they are federal student loans, consolidate with a federal consolidation, DON'T GO PRIVATE. If you go private you will lose your federal rights and benefits. There are many companies out there that consolidate federal student loans, like my company. As far as who you should go with, what you should know is, no matter what company you go with, you will get the exact same fixed interest rates. The differences are in interest rate reductions, and rebates. If you look into the reductions, you will find that with most companies, only 5% or less, actually recieve the reductions, either through selling of loans or other fine print. The rebates are for different reasons; for instance, if you make a payment within 60 days of signing your application, when that company take 61 days or more to process your application, or you want to go into deferment or forbearance before starting to pay. The other rebate is a loan added on to the back end of your loan that accrues interest. Once you look into this feel free to look us up. Hope I helped
Posted by Dr. F at 00:47:38