Hi all. Seeing as how I recently graduated with almost $130k in debt, I spent a lot of time researching the various incentives that are offered by lenders when you consolidate through them.
I found that many will deduct 0.25% from the interest rate for automatic payments, and then promise to reduce the interest rate by another 1% after 3 to 4 years of payments. I did find a couple of intersting programs, however.
Key.com has a program through AES that takes 5% off your principal right off the bat. They also give you the 0.25% interest rate deduction for the automatic payments.
Northstar.org has a program where they give you a 0.75% interest rate "credit" each month starting with your first payment. This one worked a little differently in that I believe your payments are the same as any other loan repayment plan but the credit means that you pay it off quicker.
Has anyone else found a consolidation program with great incentives?
I found that many will deduct 0.25% from the interest rate for automatic payments, and then promise to reduce the interest rate by another 1% after 3 to 4 years of payments. I did find a couple of intersting programs, however.
Key.com has a program through AES that takes 5% off your principal right off the bat. They also give you the 0.25% interest rate deduction for the automatic payments.
Northstar.org has a program where they give you a 0.75% interest rate "credit" each month starting with your first payment. This one worked a little differently in that I believe your payments are the same as any other loan repayment plan but the credit means that you pay it off quicker.
Has anyone else found a consolidation program with great incentives?
