Comments on: Great Tips to Easy College Student Loan Consolidation

By: tagfreebie

tagfreebie — Fri, 28 Aug 2009 15:59:47 +0000

i used instantlend dot com saved a butt load of cash

By: msgogeke

msgogeke — Fri, 28 Aug 2009 14:31:07 +0000

What? Do not believe this garbage! Either a) don’t borrow or b) just suck it up, and pay under reasonable terms. If you believe this rubbish, you spread out your repayment terms AND the playdough turns into a big fat pile that sits on top of you so you can’t move, you pay thousands and thousands more, and you will pay until you are 75 years old. Sallie Mae is your friend but not mine.

By: Dirk L

Dirk L — Fri, 28 Aug 2009 14:28:45 +0000

All of my student loans were through Citibank initially, and last year I consolidated through them. They gave me a 5% interest rate which I think is very reasonable. They have also been very helpful on the phone when I had questions and they have never adjusted my interest rates without informing me first. Their website is http://www.studentloan.com and I would recommend them highly.

By: Anonykris

Anonykris — Fri, 28 Aug 2009 10:04:29 +0000

The good news is that almost anyone can consolidate their student loans, even with bad credit. The federal government sponsors a program through the department of education that allows anyone to consolidate their federally backed student loans (most typically, they are Stafford Student Loans but could also be PLUS Loans or Perkins Loans) and approval is not credit based by traditional underwriting standards — the key is that you cannot be behind or have missed payments. You also must have graduated and you can only consolidate student loans once (typically) in the term of the loans. The exception to this last rule is that if you take on news loans, then you can consolidate again.

The benefit of consolidating your student loans is that you can lock in a low fixed rate while at the same time extending the duration of the pay-back on the student loans to 30 years… which could cut your monthly payment in half.

If you want to compare rates and terms to consolidate your student loans, you can get matched with several of Bills.com's pre-screened lenders, by applying here: https://www.bills.com/studentloan/loan/

To learn more about student loans, I encourage your to visit the Bills.com Student Loans Information page at http://www.bills.com/student-loans

By: annabanana4883

annabanana4883 — Fri, 28 Aug 2009 09:58:03 +0000

Hi There,

You are absolutely right… Your credit can be greatly increased immediately by consolidating…

The reason is as follows..

Picture your situation if you dont consolidate.. You have say 10 loans, all with a different monthly payment ans interest rate all of which obligate you to a minimum payment each month..

So, the way the credit bureau's see it, you have alo tof obligations each month to pay for, which gives you a high DTI or debt to income ratio…

Now, once you consolidate, it does manyu thngs… First and foremost, it comnines the multip-le loans into one large loan… The one large loan will have a SIGNIFICANTLY LOWER monthly payment which is huge in determining your credit score…

So, the answer is YES it woul have an immediate impact on your score.. It could raise it as much as 100 points depending on your credit situation…

The next question you should be asking is where to go to get the best rate for consolidation..

The thing that most people dont realize is that the Department of Education regulates and determines EVERYTHING about the consolidation process..

Every lender has the exact program to work with ther eis no difference in the type of qualifications from one lender to the next because we are all administered by the departmen tof education..

The ONLY difference BETWEEN LENDERS is the department of education chooses ALL RATE DISCOUNTS offered to students…

Currently the government only offers 3 rate discounts.. Most lenders (sallie mae, nelnet,) choose to only give 1 or 2 of the rate discounts (because they lose $$ by giving)

My company is a little different.. To set ourselves aside from the rest, we offer ALL 3 RATE DISCOUNTS TO CLIENTS..

It actually adds up to 1.85% OFF YOUR RATE FOR CONSOLIDATING…

Other lenders will only offer yo to 1-1.25% off…

I am a licensed student loan advisor with Student Aid Lending, we are a nationwide title IV lender administered by the Department of Education… I would be happy to assist you with the consolidation process..

Take a look at my yahoo 360 profile.. There is alot of helpful information there for anyone to view.. You can also find the direct link to my website..

http://360.yahoo.com/my_profile-hluduhmi...

It is actually a VERY SIMPLE process, it can be completed in 10 minutes over the phone and internet…

Feel free to call or email me at any time.. Im available at all tiem to answer any questions or concerns you may have..

I hope this helps!

Jason Fry
Student Aid Lending
1-800-964-0642 ext 114
jasonf@StudentAidLending.com