Student Loan Consolidation

Lanthis

Can anyone recommend a company that I should contact to consolidate student loans? What would be considered "good" for a loan consolidation rate, currently? If this helps at all, I have about 20-25k worth of debt, and I make about 35K a year.

Raggaholic

From my understanding, you've kind of missed the bus on the "sweet spot" for student loan consolidation. As of July of '06, the student loan repayment rate was raised to 6.5%. Had you done it prior to that, you would have been able to lock in 4.5% or 2.5% the year before (shakes fist at ex-girlfriend with lower rate).

I wouldn't expect you to get a rate below 6%, even with your high amount of debt. You may want to start with the giant of them all, Sallie Mae, and see what they can do for you. That'll be a good starting point.

skippydumptruck

There is a huge thread on the fatwallet forums somewhere that lists a bunch of different providers, what their incentives are, and the pros and cons. I'll be consolidating my loans in a couple of months, and I'll probably head over there because I remember it being pretty in-depth.

Heir

I just consolodated yesterday actually with SallieMae. Managed to get 5% on $35,000 in loans. I was pleasently surprised how easy it was.