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Old 04-27-2007, 09:29 PM   #1
aekdbbop's Avatar
Sep 2006
Nashville, TN
Posts: 2,645
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I was just wondering when you guys graduated.. if you consolidated you loans? Is it a good deal?

I do not have any loans, but my wifetobe does, and I just want to make sure we get off on the right foot.. thanks!

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Old 04-27-2007, 09:35 PM   #2
Beerrific's Avatar
Mar 2007
Posts: 5,562
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It is not a bad idea, it will lock you into a fixed rate. Most of the government organized ones are variable and it doesn't look like interest rates are going down so . . .

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Old 04-27-2007, 09:53 PM   #3
beeraggie's Avatar
Mar 2007
Posts: 259

I consolidated mine when I got out of school. It worked out very well for me. The best thing is its only one check a month instead of several!
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Old 04-30-2007, 11:50 AM   #4
ayrton's Avatar
Aug 2006
South Jersey
Posts: 809
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I consolidated as well. It's definitely the way to go: you get a lower rate over a longer period, but you still have the option to pay more every month if you want to.
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Old 04-30-2007, 12:01 PM   #5
zoebisch01's Avatar
Nov 2006
Central PA
Posts: 5,182
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I consolidated at 3.5 % or whatever it was. Definitely do it.
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Old 04-30-2007, 12:37 PM   #6
Ó Flannagáin
Registered User
Jan 2007
Wichita Falls, Tx
Posts: 2,998
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How much do you guys owe? I managed to get away with only $6000 in loans, been out of school for 4 months and down to $5400. Still sucks though, probably could have made it without the loan, but man, it helped.

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Old 04-30-2007, 01:15 PM   #7
Desert_Sky's Avatar
Mar 2006
Sierra Vista, AZ
Posts: 4,077
Liked 53 Times on 41 Posts

Im down to 6500 as well......

I only pay 72 bucks a month so its going to be a while more

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Old 04-30-2007, 02:50 PM   #8
Evan!'s Avatar
Aug 2006
Charlottesville, VA
Posts: 11,863
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Yeah, def. consolidate, especially if you have DoE loans. I had a bunch of DoE loans, and not only did consolidation get me a lower, fixed rate, it also made me feel better because I wasn't giving any more of my hard-earned money to the government. They already take way too much every 1st and 15th.
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Old 04-30-2007, 04:24 PM   #9
uwmgdman's Avatar
Feb 2006
Oregon, WI
Posts: 687
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I graduated in spring 2003, perfect time for low interest rates. Consolidated at 2.875% fixed, with my autopay sign up that's down to 2.625%. Definately saving me lots of money and most importantly it is fixed.

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Old 04-30-2007, 05:07 PM   #10
fifelee's Avatar
Dec 2006
Vaughn, MT
Posts: 1,046
Liked 40 Times on 27 Posts

Consolidation is a good idea to get the fixed rate, but it depends on the rate. I heard they are much higher now than a few years ago. It also seem like the rates get lower the closer we get to an election, so it migh be worth waiting a year. My $.02.

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