Loan consolidation

[rxforlife2004]

just wonder when would u reconsolidate your loan and which company is the best? I have several ads claiming to be giving 3000 dollars cash back if choosing their company for reconsolidation...so tempted....

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[Doctor M]

just wonder when would u reconsolidate your loan and which company is the best? I have several ads claiming to be giving 3000 dollars cash back if choosing their company for reconsolidation...so tempted....

I consolidated around 5 months after I graduated. As far as which company, not sure. Becareful who you choose. Good luck!

Dr. M

 

[AvocadoLover]

At least 50% of my mail is from consolidators now How annoying! Anyway Ive been told that many of the companys that say they will give u X amt of $ for consolidating with them actually tag that on to your loans! So your not only paying it back- your paying interest! I consolidated with Sally (sallie?) May. They are pretty reputable and they gave me great rates.

 

[pinkyrx]

At least 50% of my mail is from consolidators now How annoying! Anyway Ive been told that many of the companys that say they will give u X amt of $ for consolidating with them actually tag that on to your loans! So your not only paying it back- your paying interest! I consolidated with Sally (sallie?) May. They are pretty reputable and they gave me great rates.

I highly recommend Total Higher Education (T.H.E. www.northstar.org). I've been very impressed with them so far. I actually went with them because of several recommendations here in the financial aid section.

 

[soyroger]

I'm just starting pharm school, but when I consolidated after my undergrad in 2004 I went through the federal program Direct Loans. They don't advertise that you can consolidate through them, but they beat all the other companies for the lowest rate. Since the rates were already pretty low I got in at 2 and 7/8ths (including a .25% decrease b/c I chose to use direct deposit to pay).

However, I recall that only federal loans were eligible to be consolidated through them, or perhaps it was just those I received through Direct Loans. Anyway, call them for the details. The key thing to remember is that these companies want your money, so be wary of any type carrot they dangle in front of you to get you to make a quick decision. They'll make it up one way or another, usually in the fine print that nobody reads.

 

[pharmboy30]

I went with Nelnet.
Don't remember why though.....