SWR: Consolidating Student Loans

I am going to have to start making payments on my student loans next month and I am freaking out because I cant afford to pay for them AND save for a wedding. Tried to defer....didnt work

I have never dealt with these loans, my mom always did everything for me, and now I am so confused. I have $18,000 thru Direct Loans and another $15,000 thru Sallie Mae. Without consolidating I would be paying $219 and $185 a month, so I want to try and get it down to one small monthly payment.

Whats the best company to consolidate with??

TIA!

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Posted by mishmosh514

I am going to have to start making payments on my student loans next month and I am freaking out because I cant afford to pay for them AND save for a wedding. Tried to defer....didnt work

I have never dealt with these loans, my mom always did everything for me, and now I am so confused. I have $18,000 thru Direct Loans and another $15,000 thru Sallie Mae. Without consolidating I would be paying $219 and $185 a month, so I want to try and get it down to one small monthly payment.

Whats the best company to consolidate with??

TIA!

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I used Nelnet loans a few years back and got a FANTASTIC interest rate... thats when the rates were much lower.

If your concern is a lower monthly payment, both direct and sallie mae probably have a 'graduated' repayment plan where you pay less in the beginning of repayment and more as you make more money. Thats something to look into.

Regardless of who you use, if you choose to consolidate, make sure you do so before July.. thats when adjustable student loan interest rates change.. and Im guessing they will go up again.

www.creditsolutions.com that's who I'm going through. american express 2 years ago gave me on 2 cards 10,000 limits. which was not good! in January it was either a wedding my family would pay for, or to keep paying my $30,000 worth of debt. I picked a wedding so I had to go through that. I pay only $157 a month before that omg it was like $1500 a month for all the cards I had. anyways they are so helpful, and negoiate everything for you to try to get it lower.

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Posted by mishmosh514

I am going to have to start making payments on my student loans next month and I am freaking out because I cant afford to pay for them AND save for a wedding. Tried to defer....didnt work

I have never dealt with these loans, my mom always did everything for me, and now I am so confused. I have $18,000 thru Direct Loans and another $15,000 thru Sallie Mae. Without consolidating I would be paying $219 and $185 a month, so I want to try and get it down to one small monthly payment.

Whats the best company to consolidate with??

TIA!

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I consolidated through the NY State Dept. of Ed...it worked out really well! I'm paying off loans, a wedding and a new house! lol Good luck.

I consolidated with ACS. I had over 50,000 due in student loans between undergrad and graduate studies. My minimum payment is 287.60, but I always try to pay more to reduce final payments.

Good Luck!

I consolidated my loans with nelnet and also got a great rate! If you set it up so it will automatically deduct from your checking account you may be able to get a better rate as well. My rates on my Sallie Mae loans are actually better then if I consolidate them, so make sure you check what rate you will be getting since consolidating is not always the best thing to do. Also look into a graduated repayment option, it'll keep the cost down now, since that is what you are most concerned with, but will most likely end up costing more over the long term.

HTH!

i have it with Nelnet got a great % rate


I would stay clear of sallie mae, i just dislike them and they sell your loans nelnet wont sell them