floortoms1977 asked:


I know this topic has been beaten to death, but I can’t really find the best answer. I have about $65K in private student loans from Sallie Mae. I am looking to consolidate them in a fixed rate. I am getting concerned that rates will soon be on the rise and into double digits to curb the coming inflation. My credit score is around 780. I do not own a home so I can not use a home equity line to pay them off. Any suggestions or does anyone know of a bank or other financial institution that offers fixed consolidation? Thanks in advance!

~*~ Sunny ~*~ asked:


I have $30,000 of student loans. I am in grad school and still have one year to go. My field, library sciences, does not guarantee work, especially in this economy. I am training to be an EMT basic. This pays $15 per hour to start. I dont want to take out any more loans but I fear that I might have to in order to keep my other loans in deferrment. I live in my own apartment and don’t have parents to move back in with.

ionic_mind asked:


I am a student going to a community college on full scholarships. However, next fall I am planning to go to Mississippi State University. My problem is, even though I am only 19, I have already defaulted on a loan and stopped payments on a cellular phone contract. My credit isn’t even good enough to get a Wal-Mart card anymore. I am trying to get a hefty student loan to pay for my school expenses in my quest for higher learning. I would get a co-signer but no-one in my family has a good credit score either. So how would someone in my position go about getting a good loan for college?

Student loan consolidation is one of the most popular ways to get rid of the burden of student debt. While studying, taking student loans is a common way to deal with the rising costs of higher education. The drawback is that by the time a student graduates, he or she has a sizable student debt along with their degree.

Student debt consolidation is the most recommended course of action, particularly for students who have taken up a number of loans from a number of different lenders. Without a fixed interest rate, having to make multiple payments each month to cover student loans can be frustrating and confusing. A student loan consolidation program can be a boon for both parents and students when it comes to debt maintenance.

Why Consolidate Student Loans?

Under ordinary circumstances, a student may take out a number of different student loans at different times. This results in sizable student debts that need to be paid off within ten years using a monthly payment plan. Students who have taken out more than one loan will have to make multiple payments.

Student loan consolidation allows the student to combine all outstanding loans into one loan. This also means that the loan is with one lender with one set of monthly payments. While this greatly reduces the frustration of dealing with student debt, student debt consolidation program has a number of other benefits as well.

Lower Interest Rates, Lower Payments

A student loan consolidation offers a number of benefits that will ease a student’s present financial stress and can help in saving money for the future. A student loan consolidation will lock your interest rates at a lowered level, thus allowing you to save money in the long run.

This kind of student loan consolidation program can also lower your monthly payment premiums apart from charging you with just one payment a month. Flexible repayment plans are also available, which can even extend your debt repayment period from 10 to 30 years, depending in the debt amount. Student debt consolidation programs do not require credit checks or co-signers, so you can avail this financial program even if your finances are stretched.

If you are a student and find that your student loans add up to over $7500, opting for a student loan consolidation is your best option. Especially for those who have taken loans from multiple lenders, a student loan consolidation can help clear up a frustrating and confusing mass of debts into one, easy loan that is paid off once a month. Using a student loan consolidation can help students deal with their debt in an efficient and easy way so they can focus on their future



By: Apurva Shree

About the Author:

totalmmm1 asked:

consolstudloan.blogspot.com college student loan consolidation Student Loan Consolidation Interest Rates – Best Student Loan … Student loan consolidation interest rate information at Student Loan Consolidator. Sallie Mae – Private Student Loans, Federal Student…

TeachTeach22 asked:


I am looking to consolidate my Federal Student Loans in an effort to reduce my monthly payment (I am in the process of being approved for my first mortgage). Until recently, this wasn’t something I was considering, but now having a lower monthly payment would be great. Any advice on a good company to go through for consolidation? How long does the process typically take? Anything else I should be aware of?

I currently have about $41,000.00 in Federal Student loans (but also have private student loans) so…the lower the payments, the better off we will be. Thanks for your help!

Diceman asked:


My parents are asking me, 28, to co-sign for her college loan.

Is this ok? Will this build my credit if the payments are made on time?

My credit’s fine, but I’m leary.

something I pondered asked:


I am 3 classes away from getting my bachelors degree. I already have a full time job and havnt really considered going back, I will eventually to finish up. Direct loans has started bugging me, I was thinking about defering by takeing 1 class a year, this will give me 3 more years before I have to start paying, I can save a decent amount and once im done I can make a nice upfront payment, owe about 30k. Im currently 26 years old.

baseball girl asked:


I frequently receive unsolicited mailings to consolidate my student loans. How can I opt-out?

Fly girl asked:


I am at the final stage of paying off credit card balances. Just one more month, yippee!!!! I’ve also already paid off my car loan 7 months before the maturation date. Anyway, I still have close to $50,000 in student loan debts- federal and private. But that’s it. I have never had any major credit problems. Will all this student loan debt have a negative impact on my credit score and rating?
I always make the payments on time every month.