Answers:
There are a couple of places you might try...
Chase Bank has a student loan consolidation program, http://www.usadegrees.com/consolidate/...
My favorite is http://www.studentloanadvisors.com... really fast answers, no cost to apply. There is a short, easy online request form to help get you started.
Try both and see who can offer the best over all deal to you.
By law, lenders are required to use the same interest rate formula for Consolidation Loans. However, many lenders offer interest-rate reductions for paying on time or via direct debit. It is important to read the fine print and understand how you become qualified for or disqualified for a lender’s borrower benefits programs. Beyond savings, borrowers should consider customer service, flexible repayment options, online account access and applications, reputation and industry experience when selecting a lender.
Sounds like you’re in the same spot most college students are in today:
1. Multiple Loans
2. Multiple Lenders
3. A mix of Federal and Private Loans
Before rushing into a consolidation, be careful! Your Federal Student Loans SHOULD NOT be consolidated with your Private Student Loans. The program designed for loan consolidation was intended to keep these two types of loans separate. If not you’ll lose not only the deferment benefits you’ve been receiving, but possible tax breaks as well.
If you were given the option to consolidate your Federal Student Loans and your Private Student Loans together it typically is to give you one large private loan. Thus loosing all of your benefits mentioned above.
It is, however, and option to consolidate your Federal Student Loans and your Private Student Loans separately. If I were you, I would keep in mind that July 1st is the interest rate change date every year, so it would be in your best interest to do so before July 1st.
If you are interested in Private Student Loan Consolidation, I would wait until after October 1st when programs and rates are expected to improve in your favor.
To make your payments (and budget) easier consider doing a FFELP and Private Consolidation with the same lender (see source below for a possible option). This way your loan advisor is familiar with your overall financial situation and both payments will be made to the same bank each month.
Good Luck!
For more information about the FFELP Consolidation program, please visit the source below.
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