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Discussion Starter #1
I am in the process of trying to consolidate my student loans. I have federal and an educational computer loan.

Any recommendations for companies to consolidate with? The problem I've run into is most places will only consolidate federal loans. I need to consolidate my computer loan with it all and make only one payment.

Any suggestions would be great. :)
 

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I've been paying on my $19,000 loan for about a year now and every week, I get something in the mail telling me to refiance but I haven't had time to do that yet. I'm not too smart when it comes to loans and all that stuff but i do wish you luck! It's a pain!
 

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Are all your loans through one bank? If so, you cannot consolidate with one of those companies. I found that the rate I am getting currently is better than the consolidation rates at many banks and my current rate is fixed, while most refinanced rates are variable. Setting up direct payment online can save up to .25% points.

Is your computer loan with the computer store or company? If so, I doubt you can get a bank to pick it up.
 

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Discussion Starter #4
I have federal student loans (the gov't type) and a loan with PLATO which is paid to Wells Fargo.
 

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The Student Loan Corporation/Citibank is a good company, but you'd have to check about that other loan of yours.
 

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Can't you guys get Financial Aid/Grants? I always got more than enough to pay them off. Except I always go one quarter without no payments because they always screw me up. Thus, me going to a new college next year :lol:
 

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It's a combination of my parents income being too high to recieve much aid (btw, they give me virtually no financial support) and my grades not being good enough for a scholarship.
 

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I would recommend contacting The Student Loan Corp/Citibank if your loans aren't already through them. My loans are Federal as well, but the lending institution I chose was Citibank. They have great online presence and very helpful phone service.

There's nothing wrong with needind student loans. They act as a great way to establish credit if you pay on time, they teach fiscal responsibility, often save money in the long run versus paying up front and act as a tax write-off. You can bet when I go to culinary school I'll be taking out a loan instead of shelling out 35 grand that I don't have.
 

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Discussion Starter #12
My co-worker recommended slccloans.com. He used them to consolidate his loans a few years ago and really likes them. I downloaded the needed forms, but haven't had the chance to call and ask them about my loan that is not federal.

Oh, and I was an art student. They don't give extra consideration for art/engineering/architecture students who have to pay boo-koo (?sp!) bucks for supplies for every project (in addition to regular textbook fees and common supplies). That's one thing I think someone should look in to.

I didn't have a choice but to take out student loans. Believe me, if I could have, I would have. It's not fun starting out with a big debt. :?
 

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are the loans you have now fixed against anything like a house?

all these loan companies will take them on if you can fix them against a house or something like that- basically if you end up not being able to pay they have the right to sell your house and take the money to pay the bills. with banks you usually find thier loans are not fixed against a house etc....
 

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No, they are loans funded by the government. I don't know how it works in your country.... but in the U.S., students can apply for federal aid. You do not have to begin paying on the loans until after you graduate, they have a much lower interest rate, and they are fairly easy to work with and consolidate when it comes time. My only issue is that I have another loan that is not federal, so I have to find someone who consolidates both.

With federal student loans, there is no equity required. Most companies do not require any type of equity (such as a house or car) to consolidate your federal loans.
 
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All of my student loans are through Sallie Mae and have been since I started repaying them in 1997. My interest rate has dropped over the years and I think the rate now is 3% or something close to it.
 
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