You might get a lower interest rate if you consolidate your student loans. It all depends on what kind of loans you have and whether you pay a fixed or variable interest rate now.
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Friday May 1, 2009
Consolidation loans can offer a bit of repayment relief and simplify repayment of your education loans. But they can also increase your costs and come with other pitfalls.
Questions to ask lenders before you choose to consolidate your student loans.
Tuesday May 13, 2008
We can’t say this enough: Federal loans have far better interest rates and repayment terms than private loans. You should always exhaust these before turning to private loans. So why do so many people take out private loans? Well, federal loan amounts...
Let’s be very clear: In almost every case, you shouldn’t mix your federal and private loans.
As with any financial decision, it depends.
Think of consolidation like a student loan taco. (Bear with us here.)
Tuesday May 13, 2008
Consolidation means combining all of your loans into one bigger loan. This may be tempting for a variety of reasons: You may want to make one monthly payment instead of many, maybe you want to lower the total amount you're paying each month or you simply hate your lender and want to take your business elsewhere. This gets complicated, ...
Friday Jan 23, 2009
You might get a lower interest rate if you consolidate your student loans. It all depends on what kind of loans you have and whether you pay a fixed or variable interest rate now.
Friday Jan 23, 2009
You can consolidate undergraduate student loans with graduate student loans. Just don't consolidate your federal loans with private loans because you might lose that lower federal interest rate.
Friday Jan 23, 2009
You can't consolidate your college loans or your graduate school loans until after you graduate. But you should start thinking about student loan consolidation before graduation day arrives.
| Type | Today | Week Ago |
|---|---|---|
| 15 Year Fixed | 4.62%  |
4.67% |
| 30 Year Fixed | 5.15% | 5.15% |
| 1 Year ARM | 3.48% |
3.51% |
| 5/1 Year ARM | 3.62% |
3.68% |
| Type | Today | Week Ago |
|---|---|---|
| Line of Credit | 4.89%  |
4.88% |
| 10 Year Loan | 7.47% | 7.47% |
| 15 Year Loan | 7.61% |
7.60% |
| Type | Today | Week Ago |
|---|---|---|
| Interest Checking | 0.28% | 0.28% |
| Money Market/Savings | 0.38% | 0.38% |
| 12 Month CD | 1.13%  |
1.15% |
| 60 Month IRA CD | 2.40% |
2.41% |
| Type | Today | Week Ago |
|---|---|---|
| Cash Back Cards | 12.66% |
12.68% |
| No Annual Fee Cards | 12.08% |
11.97% |
| Reward Cards | 12.75% |
12.61% |
| Small Business Cards | 11.01% |
10.94% |
| Student Cards | 13.77% |
13.49% |
| Platinum Cards | 12.26% |
12.11% |
