student loan consolidation!?
Hello I am 22 years old…unfortunately I did make some bad choices in the past and now I am paying the consequences.
I am in debt with student loans and I would like to know how will consolidating my loans, all in one will help me with my financial problems. I have like 15,000 to 20,000 in school loans. Although I am paying them ok, I would like to know what can I do…what options are there out for me to make the situation a little better. I am still going to school and would not want to take more loans, believe me, I will try not to take anymore.
IT also seems like I obviously don’t know how to divide and distribute my money properly…meaning, I don’t know how to plan my monthly budget…what can I do? any advice???
I will appreciate your answers….thank you!
p.s. Where can I get help with loan consolidation…or what company do I use…any recomendations on how to plan my monthly budget (maybe using a computer program or something)….thanks!!
Credit Unions are GREAT for debt consolidation. Go in and apply for a loan for the remainder of your student loans, and pay the loans off with that money. Then you’ll owe the credit union a monthly payment. Make sure the APR is lower for the credit union than for the student loan itself. If you have a parent/significant other/other relative with great credit, see if they’ll cosign – it will lower the interest rate.
