| Student Loan Consolidation ALERT |
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muneebgs
Member
Cash: $ 2.75
Posts: 12
Joined: 08 Feb 2007
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| Student Loan Consolidation ALERT |
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A lot of student loan consolidation companies have emerged over the last few years. In general, student loan consolidation IS a good idea. However, regardless of the marketing you see, this may not be the best time for consolidation.
The reason: The interest rate for student loans is set on July 1, 2007. This year, interest rates could be significantly lower. That means everyone with variable interest rate loans may be better off consolidating AFTER the July 1 interest rate changes.
Around mid-May, the lending indicators will give a better idea of those rates. Hold off on the student loan consolidations until that time!
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Fri Mar 30, 2007 7:54 pm |
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Case-Face
Full Member
Cash: $ 0.35
Posts: 75
Joined: 21 May 2007
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| consolidating loans |
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Thanks for the heads-up. I had consolidated my student loans a couple of years ago and my interest rate will not move from where it stands luckily. I do prefer my loans to be in one place, but that's just me.
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Thu Jul 19, 2007 3:49 pm |
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dstern
Contributing Member
Cash: $ 6.60
Posts: 33
Joined: 18 Aug 2007
Location: UK
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is there really much benefit in loan consolidation? most of them, all they do is come up with a payment plan, more your debt and in some cases it ends up costing you more.
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Sat Sep 08, 2007 7:57 pm |
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