Student Loan Consolidation Rates
With the high cost of going to college today, student college loans are available to help parents and students get through this financially challenging time.
When you are ready to start college, the first thing you must do is figure out how to pay the expense of your higher education. There are many options available to you to help pay for your college education regardless of your financial situation. It is better to start searching for money for college as soon as possible as some scholarships and loans are handed out on a first-come, first-served basis.
Cash does not come easy and unexpected expenses could occur while you are still in school. If you are in college and in need of funding to continue your education, there are sources where you can obtain additional financial help.
Also, if you are just starting college or you are still in school, you can also apply for a student debt consolidation loan and combine one or more current eligible loans into a single new loan at a low rate with no additional fees.
If you have completed your education and your monthly student loan payments are too much of a strain on your budget, you can apply for a student consolidation loan to lower your monthly payments. Combining all your student loans could cut your monthly payment up to 50% and possibly at a lower interest rate.
Whatever your financial situation is, never stop searching for a better funding source and always try to negotiate the best possible deal to save as much money as possible.
Best answer from question by Hiro Nakamura:
Answer by Kurt B
Did you get a TIL (Truth in Lending) statement? It shows how much you are borrowing, how much the interest rate is, what the payments are, how many payments, the total interest you will pay over the life of the loan and the total amount you will pay. If the TIL says 6.625% and you signed it, you are out of luck.
Unfortunately, loan brokers (people who help find you a loan, but don’t actually lend the money) can say pretty much anything they want. They can “quote” you a low fixed rate, but the actual loan contract determines what the terms actually are.
Check your TIL, if it says something different than your bill, you can contact a lawyer about getting the interest rate corrected…
Good luck.
Best answer from question by Graft:
Answer by questionqueen20
You need to call your loan company to find out what the deal is with the varying interest rates. On the surface it sounds ideal.
As for both loans, you’ll need to have good credit or home equity to qualify for a personal loan to cover debts. It is a good idea if the length and interest rate arent too high.