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  #1  
Old 12-04-2005, 04:10 PM
steelcmg steelcmg is offline
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Default 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%
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Old 12-04-2005, 04:16 PM
surfinillini surfinillini is offline
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Default Re: Student loan consolitation

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

CONSOLIDATION my friend...
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  #3  
Old 12-04-2005, 04:25 PM
steelcmg steelcmg is offline
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Default Re: Student loan consolitation

are there any downsides to consolidating i think i remember hearing it screws up your credit.
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  #4  
Old 12-04-2005, 06:09 PM
JonPKibble JonPKibble is offline
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Default Re: Student loan consolitation

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Old 12-04-2005, 06:41 PM
astroglide astroglide is offline
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Default Re: Student loan consolitation

suze orman terrifies me
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  #6  
Old 12-04-2005, 07:14 PM
BigBaitsim (milo) BigBaitsim (milo) is offline
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Default 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.
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  #7  
Old 12-04-2005, 08:56 PM
david050173 david050173 is offline
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Default 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.
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