How to consolidate my student loans?
This is all new to me. I’ve been through the mortgage process twice, but know very little about student loans. I graduated with a BS in May and just got a letter stating my student loans were coming due. I owe ~$16000, and am looking to consolidate all this together (as I heard you can get a lower interest rate). The problem is Sallie Mae does not consolidte anymore. Does any have any suggestions on what to do to consolidate at a lower interest? My interest varies from 3.81-6.8 on some of the stafford loans.
Consolidating loans won’t lower your interest rate. Your consolidation rate is an average of your current rates. However, it does get you out of variable rates and rates are low right now. Try the Dept. of Ed. website; they should have some good info about consolidation!
