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Consolidating Student Loans
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| DigitalMP |
Has anyone ever?
Have you ever considered the mailings you receive about these "magnificent consolidation rates"?
I have my loans through two servicing companies now, and the rates that #2 gave me really sucked, so I think I'm going to consolidate with #1 (which is Sallie Mae).
I'm just wondering what everyone who has experience has thought of the mailings with seemingly unbeatable rates. They look to be fly-by-night loan consolidators and cause me to be skeptical, with respect to guarantees and such. |
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| Protege |
| I consolidated with Bank of America and its all worked out good. Got a good rate and its easier to just pay off one loan as opposed to the 4 that I had. I didnt really pay attention to all the junk mail I just called around and found the best rate. |
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| DigitalMP |
| Thanks for the response...were any of your existing loans through Bank of America? |
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| Protege |
| Nope, they were all loans through my school or the gov. |
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| tubularbills |
since i'm going to be graduating here in may; i've been getting those loan consolidation things in the mail pretty much every other day.
I haven't really looked into any of it just yet because of this:
Apparently, while in school, if i was to consolidate my loans, i've have to start making payments now. but if i waited until after i graduate, i'd still get my 6 month grace period. This is what two different consolidation companies have told me.
so screw making payments now, i'm just going to wait until May to do it. I have a few places bookmarked already; and i know USBank has something simliar to what Protege said with Bank of America. Perhaps banks may not have the best rates, but could be the most trustworthy. |
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| DigitalMP |
some places will give you 6 months as well.
i know sallie mae will... |
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| Azz3D |
I just do a "witch burning ritual" when I get those letters
just like credit card offerings
one's enough fer me! |
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| biznology |
| this is most important after graduation. you generally only have several months to consolidate and it is stupid not to. make sure you can talk to a person if considering a random mailing. that is what sealed it for me| |
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| weymouth |
| I used Sallie May, they didnt have the lowest rate % but I went with them because they handle the most student loans in the U.S. They must be doing something correct then. |
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| Mr. Pink |
one of my best friends from HS works in the sallie mae collections section.
so pay uP or he will find j00!!!!!!!!!:nervous:
i consolidated my loans just this month. Sucked. I had to fill out all this paper work. My rate is 4.7% and ill be paying $85 monthly with a Graduated Payment plan. I would have done the Standard Payment plan at $135 a month, but im fukin poor.
im working based off a 20yr plan, BUT.......once i get a real job ill move up to Standard Payment at a 10yr plan, hopefully:thepirate |
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| _Nut_ |
| quote: | Originally posted by tubularbills
since i'm going to be graduating here in may; i've been getting those loan consolidation things in the mail pretty much every other day.
I haven't really looked into any of it just yet because of this:
Apparently, while in school, if i was to consolidate my loans, i've have to start making payments now. but if i waited until after i graduate, i'd still get my 6 month grace period. This is what two different consolidation companies have told me.
so screw making payments now, i'm just going to wait until May to do it. I have a few places bookmarked already; and i know USBank has something simliar to what Protege said with Bank of America. Perhaps banks may not have the best rates, but could be the most trustworthy. |
The AF didn't pay for you? I thought you were ROTC |
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| Caela |
:nervous: :nervous: :nervous:
ahh i need to start applying for student loans. any suggestions? |
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