Comments on: How Private Loan Consolidation Can Prevent the Stretching of Your Paycheck to Breaking Limit http://mileniooscurocomics.com/how-private-loan-consolidation-can-prevent-the-stretching-of-your-paycheck-to-breaking-limit/ College Student Loan and Private Loan Consolidation Information Tue, 01 Jun 2010 18:18:03 -0400 http://wordpress.org/?v=2.8 hourly 1 By: brave.heart http://mileniooscurocomics.com/how-private-loan-consolidation-can-prevent-the-stretching-of-your-paycheck-to-breaking-limit/comment-page-1/#comment-333 brave.heart Thu, 15 Oct 2009 00:55:41 +0000 http://mileniooscurocomics.com/how-private-loan-consolidation-can-prevent-the-stretching-of-your-paycheck-to-breaking-limit/#comment-333 Since these loans are not backed by the government, most private consolidation loans will be credit based, meaning the interest rate will be set based on your credit history, just like the private loans you have now. If you want a lower rate, spend some time getting your credit score as high as possible and/or find a cosigner with good credit. Both can help lower your rate. Since these loans are not backed by the government, most private consolidation loans will be credit based, meaning the interest rate will be set based on your credit history, just like the private loans you have now. If you want a lower rate, spend some time getting your credit score as high as possible and/or find a cosigner with good credit. Both can help lower your rate.

]]> By: lexelence http://mileniooscurocomics.com/how-private-loan-consolidation-can-prevent-the-stretching-of-your-paycheck-to-breaking-limit/comment-page-1/#comment-330 lexelence Wed, 14 Oct 2009 22:45:00 +0000 http://mileniooscurocomics.com/how-private-loan-consolidation-can-prevent-the-stretching-of-your-paycheck-to-breaking-limit/#comment-330 Try STUDENT DEBT KILLER program as seen on YouTube Try STUDENT DEBT KILLER program as seen on YouTube

]]> By: Alex http://mileniooscurocomics.com/how-private-loan-consolidation-can-prevent-the-stretching-of-your-paycheck-to-breaking-limit/comment-page-1/#comment-336 Alex Wed, 14 Oct 2009 19:53:19 +0000 http://mileniooscurocomics.com/how-private-loan-consolidation-can-prevent-the-stretching-of-your-paycheck-to-breaking-limit/#comment-336 Ditto what Bob K said. It's what I plan to do with my private loans - but here's more information for you: The Sallie Mae private loan consolidation program started at the end of April. They do a credit check, and depending on your FICO score you can get a rate that starts at prime and then moves up from there if your score is less than perfect. *But*, you can get a cosigner with excellent credit and get a rate closer to prime, and after two years of repayment you can remove the cosigner completely from the loan. The best part is that repayment can be for up to a 30 year term (maybe not for smaller balances, but ask anyway). The White Collar Ruckus http://whitecollarruckus.libsyn.com Ditto what Bob K said. It's what I plan to do with my private loans – but here's more information for you:

The Sallie Mae private loan consolidation program started at the end of April. They do a credit check, and depending on your FICO score you can get a rate that starts at prime and then moves up from there if your score is less than perfect. *But*, you can get a cosigner with excellent credit and get a rate closer to prime, and after two years of repayment you can remove the cosigner completely from the loan. The best part is that repayment can be for up to a 30 year term (maybe not for smaller balances, but ask anyway).

The White Collar Ruckus
http://whitecollarruckus.libsyn.com

]]> By: David L http://mileniooscurocomics.com/how-private-loan-consolidation-can-prevent-the-stretching-of-your-paycheck-to-breaking-limit/comment-page-1/#comment-337 David L Wed, 14 Oct 2009 16:25:54 +0000 http://mileniooscurocomics.com/how-private-loan-consolidation-can-prevent-the-stretching-of-your-paycheck-to-breaking-limit/#comment-337 You have an awesome credit rating so should have no problem getting the loan on your own. You have an awesome credit rating so should have no problem getting the loan on your own.

]]> By: esweetie01 http://mileniooscurocomics.com/how-private-loan-consolidation-can-prevent-the-stretching-of-your-paycheck-to-breaking-limit/comment-page-1/#comment-338 esweetie01 Tue, 13 Oct 2009 18:09:32 +0000 http://mileniooscurocomics.com/how-private-loan-consolidation-can-prevent-the-stretching-of-your-paycheck-to-breaking-limit/#comment-338 Private student consolidation loans are not guaranteed by the gov't - so they're a much higher risk to the lender. Therefore, they're typically based on the credit history of the borrower. It's unlikely you'd get a significantly different interest rate if you shop around to different lenders. What you can do is get your credit in as good shape as possible before you consolidate, and/or find a cosigner with good credit. This can help bring the interest rate down. The rates may *seem* high, but they're probably lower than a typical credit card or car loan rate, plus the interest on them may be deductible on your taxes. Private student consolidation loans are not guaranteed by the gov't – so they're a much higher risk to the lender. Therefore, they're typically based on the credit history of the borrower. It's unlikely you'd get a significantly different interest rate if you shop around to different lenders.

What you can do is get your credit in as good shape as possible before you consolidate, and/or find a cosigner with good credit. This can help bring the interest rate down. The rates may *seem* high, but they're probably lower than a typical credit card or car loan rate, plus the interest on them may be deductible on your taxes.

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