need advice with loan consolidation

[NYCBlues]

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To those who have already consolidated their student loans, do you mind telling us which company you consolidated with?

I received a recommendation from graduate leverage and they said I would get a 1% reduction after 36 timely payments as well as lock in my loans at the same rate as last year's at 2.875%. Also, I won't lose my grace period. All these seem too good to be true....

Graduate leverage also recommend that I consolidate my Perkins loans, which most people would advise against it.

There is a similar thread on this topic in the medical forum (I have attached the link below if anyone is interested) and there is much skepticism regarding this offer from graduate leverage. But I want to bring this topic up again in this forum to see what you guys think.

If anyone else has received a recommendation from graduate leverage, you know what i am talking about. I am very skeptical of their offer, but at the same time I don't want to miss out on it.

If anyone has any ideas, inputs, experiences, please post away. I need as much advice as I can get. Thanks!

http://forums.studentdoctor.net/showthread.php?t=269434

 

[NDMD]

I consolidated with Graduate Leverage last week. I was also skeptical at first but did a lot of research and decided they are legit. I called four times with different questions and each rep I talked with was very knowledgable.

I only consolidated one of my Perkins loans so I wouldn't be bound by the Single Lender Rule. The drawback of that is that the Perkins will accrue interest prior to repayment (at my weighted average of 3.75%) but it is worth it to lock in the extremely low interest rate (2.875% until 36 payments; then 1.875%) on the Stafford loans.

My best advice would be to call and have them answer your questions.

You might want to read this also: http://www.fatwallet.com/t/52/596894

 

[magicrat]

According to an email I just received from theLoanster.com and subsequent research. The single lender rule will be gone as of the end of the week.

Votes on the Emergency Supplemental Appropriations bill, H.R. 4939 are expected in the House on Monday and the Senate on Tuesday; the bill is expected to pass and be signed by the President before the end of the week. The repeal of the Single Holder Rule, which is on P. 18 of the Conference Report, will take effect for all applications received on or after that date.

Everyone can now get great borrower benefits.


By the way, as I have discussed on other boards, theLoanster offers better benefits than GL-They offer them immediately-and their affiliationwith bigger institutions (AES,USBank)bodes well for the safety of the deal. (as opposed to Brazos and Montana)

 

[osushi gurl]

Hi,

Some recent graduates from my program at USC have run into some trouble with Graduate L. GL did not follow through with the promised benefits. My school has warned against consolidating with them. If anything, make sure you get the benefits in writing before you submit your application.

 

[yobabydoc]

I was going to consolidate with GL ...it sounded real good in the beginning and then I started gettng a real wierd feeling about it. I just was not feeling peaceful about it. Honestly I have had no probs with Sallie Mae and so I decided to stick with them. I got a mail inthe check from Sallie Mae for one of my benefits just this week. I am not consolidating my Perkins. Let the government pay the interest. GL had suggested i consolidate everything.