How can I consolidate private and federal student loans?
I have 1 federal loan for $16,000 and 2 private loans for $3200 each. I would like to consolidate all of these to 10-12 year loan. Does anyone know anyone who can do this with any nice incentives?
- just not thatLv 71 decade agoFavorite Answer
You can't consolidate private loans with federal ones. Sorry. Your rates will be higher than what you are paying on that federal loan anyway. It is not in your best interest to consolidate for that reason. Just put your payments on auto draft so you don't have to worry about making 3 payments. Most of the lenders will give you a break in interest if you do this.
- veradisLv 44 years ago
My daughter consolidated inner maximum and federal. (maximum federal are easily privately held besides, only federally sponsored/insured in case of default) there are a number of businesses that consolidate. My first suggestion could be do no longer consolidate with Sallie Mae or the others that originally write the loans to your college. they often are much less own to handle and sense that they've you ever already, so do no longer would desire to be aggressive. in case you do a seek and learn the recommendations, you will hit upon a consolidation plan suited for you. expenses of pastime and words replace, and there isn't any one business corporation which will fit all economic needs. only make specific you get all your loans indexed once you consolidate. Your economic help place of work would desire to have the skill that may assist you hit upon all of them. My daughter ignored one, so had to pay it one after the other. thankfully it replaced into sufficiently small that she only paid it off thoroughly. i understand that would not supply you a particular business corporation to seek for, yet hopefully it provides you a start up interior the splendid path.
- 1 decade ago
try a few banks.