I owe about $8000 dollars in student loans from various companies and I would like to consolidate into one monthly payment. Any suggestions?
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I owe about $8000 dollars in student loans from various companies and I would like to consolidate into one monthly payment. Any suggestions?
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Gram Positive
July 29th, 2010
daddy and mommy!!!
lol
bluevinylangel
July 29th, 2010
Have you checked with the company currently holding your loans? More often than not those companies are happy to help you consolidate loans and it’s usually a fairly easy process.
There are outside companies that offer to consolidate, but they typically only pick up loans in excess of $15,000.
JRM
July 29th, 2010
Check with the lenders that currently hold your loans. While there are many good companies out there that offer consolidation loans, it’s usually easier to work with someone that already has one of your loans. See what repayment benefits they offer and just go with the best offer.
jamesPurple
July 30th, 2010
Try your bank first, then compare to majors offers. (Citi Finance, Bank of America, Capital One…)
Good luck !
Student Loans
July 30th, 2010
Are these student loans that you owe Federal Student Loans or Private Student Loans?
Since your loan amount is so minimal I would contact your current lender to explore your options. Or better yet you could contact the Department of Education and inquire about a Federal Student Loan Consolidation with them.
The one main concern with your Federal Student Loans would be the minimum amount in order to consolidate which is $7,500; since you are so close to this amount you may want to contact your current lender to get your exact loan amounts. For more information regarding the FFELP Consolidation Loan Program please see the source below. Hope this helps you out!