by February 22nd, 2010. Filed under: Financial Aid.
I have approximately $25,000 in Federal student loans and $65,000 in Private student loans.
I just graduated and I start a new job tomorrow that pays $40,000/year. I never established any sort of credit in college.
I just moved here and in order to get an apartment and to get an auto loan they had to look up my credit score, and my parents had to cosign for each. For the electric bill they had to look up my credit score and finally in order to get a secure credit card they had to look up my credit score.
I know each time someone checks your score it goes down a few points, so I’m assuming mine is crap.
How long should I wait to consolidate these private loans? How long will it take to improve my credit score enough to make a difference? Is loan consolidation a good option for me? Thanks for your help.
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Filed under: Financial Aid
February 23rd, 2010 at 12:22 pm
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If you haven’t noticed it, education costs don’t come cheap nowadays. Many students are taking loans to support their way through college. It seems to settle their problem for the time being but things will start to get difficult when they graduate. They are already in debt before they even earn their first dollar. The tips below are to show you why you should consider the student loan consolidation.
This is by far the best reason for you to consider taking the loan consolidation. It is possible to reduce your monthly payment by 40% – 50% when you make a research on the lenders. Imagine freeing half of the financial load being lifted off your shoulders. You will feel that the air is lighter and your life is not just about paying for loans.
February 24th, 2010 at 1:20 pm
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There’s quite a bit to go over… I just found a link that included all the information you’ll need. Going with the wrong lender can cost you way too much, so be careful about student loan consolidation. You only get one shot!