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Has anyone heard either good or bad about this company? They are the only place I can find which will consolidate all my private student loans with a fixed rate. They approved me for my total amount I need at 9.2% with a .25 reduction for automatic deduction from my checking account.
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9.2%?? What are the rates of the loans you're attempting to consolidate? -
The rate for my big one is 9.970% and it's variable so it's gone up a few times.Comment
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A quick google search seems to imply it's a legit company. It's being sued by the state of New York for allegedly colluding with schools to steer student loan money their way, but that wouldn't necessarily mean it's a bad company for you to consolidate with.
Do you have any other financing options available to you? Home equity loan? Personal loan? Consolidating at 9% would be hard for me to swallow. Have you checked with all the providers of your current student loans?Comment
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I don't own a home, but hope to in the summer of 2008 (possibly optimistic, but it's a plan) All of my loan companies only offer variable rates, which is what got me into the problem of paying so much in loans (650+/month)
I had a friend look into some of the banks he has money in and asked if they would loan me the amount of money I needed and no one would be willing to give me that kind of money.
I know it's a high rate, but I want to have some money left over after each paycheck.Comment
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I see your point. I guess a fixed 9.2% (-.25%) is better than a variable rate of 10% and rising.
Have you checked with Sallie Mae?Comment
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I just looked at Salie Mae, but it's private loan consolidation interest rate is variable. I've learned my lesson about variable rates ... I guess it was better to learn early in lifeOriginally posted by sweeps View PostComment
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Looks like EFP is the winner. I also checked this list. EFP was the only one that offered a fixed rate.Comment
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