Is it a smart idea to use outside lender to pay off student loans ?
Hi,
So I think i might have found an OUTSIDE Lender which might payoff my student loans …I have like 7 differnt loans with 7 different interest rates — and SALLIE MAE won’t let me consolidate these loans to give me ONE interest rate ….they just won’t let me do that …
So I found a credit one financial LLC (through Lending tree or Prosper websites) and maybe they might be able to pay off my loans and then I will be paying my payments to CREDIT ONE Financial LLC….
Has anyone ever done this before, is this a smart or dumb idea ?
let me know …I don’t know what my interest rate will be but I will find out.
Thanks
You can not consolidate government student loans – you figured that out.
You did not mention interest rates.
Usually student loans carry much lower interest rates than consolidation loans.
Are you sure you are doing the right thing?
If you are consolidating for convenience, you might be paying extra.
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