Student loan consolitation
 

I finished college last year and owe about 17K in loans. I keep getting things from a company called Nelnet to consolidate my loans and save like 2% on intrest. I remeber hearing to stay away from doing this but i dont remember where i heard it from. Are this things worth looking into or should i just stick with paying AES. My intrest rate with AES is like 5%

Re: Student loan consolitation
 

good to see those loans are paid for a good education:

CONSOLIDATION my friend...

Re: Student loan consolitation
 

are there any downsides to consolidating i think i remember hearing it screws up your credit.

Re: Student loan consolitation
 

https://www.myfico.com/PrivateLabel/...come_photo.jpg

Re: Student loan consolitation
 

suze orman terrifies me

Re: Student loan consolitation
 

[ QUOTE ]
I finished college last year and owe about 17K in loans. I keep getting things from a company called Nelnet to consolidate my loans and save like 2% on intrest. I remeber hearing to stay away from doing this but i dont remember where i heard it from. Are this things worth looking into or should i just stick with paying AES. My intrest rate with AES is like 5%

[/ QUOTE ]

The wife and I consolidated through the US Dept of Education, and not a private company. We pay less than 4% on the 150K original debt owed.

Our credit scores were good enough last year to get a mortgage loan at the going rate, despite neither of us having an actual job.

Consolidate.

Re: Student loan consolitation
 

You can only consolidate once. Given that interest rates are going up, i would be surprised if you can save 2% over the life of the loan. I am guessing they are giving you a teaser rate which goes up after 6 months or a year.