The rate of student loans drops, but my lender doesn't offer consolidation?! AES successful loan.?
So I 3 small loans to students with a successful AES. Since I heard the rate of loans to students passing, I was planing on consolidate and make fixes. However, they do not offer this service! Is it possible to go through another lender willing to consolidate? suggestions?
Loan rates are down only on federal Stafford loans that you left who have a variable interest rate associated with them. Everything loan was disbursed after July 1, 2006, fixed rate of 6.8% and this rate has not changed. If you have variable rate Staffords from before 1 July 2006, then yes the rate goes down and consolidating after July 1, 2008, you can lock it as a fixed rate loan at just over 3% less than your current rate. Pretty good deal. The hardest part is finding a lender like most FFELP lenders have left the ship-building. Your best bet is to consolidate those loans through the Direct Loan program of the government with a federal consolidation loan. https: / / www.dl.ed.gov / borrower / BorrowerWelcomePage.jsp This is the site for site of Govt's. Keep in mind that if you include other fixed rate loans federal calculation your new fixed rate will be done on a weighted average. You should talk to a representative of the lending process and its effects, or only process loans floating rate in consolidation.
