Private College Student Loan

Should I consolidate my student loans?

Hi! I make 33,000 per year. I have four loans (three of which are educational). Should I consolidate them? 4800 my truck at 7.99 percent (private loan) fixed 19760 direct loans unsubsidized (federal) 6.85 percent fixed 15000 sallie mae 1.45 percent but it's variable rate 7500 perkins loans 5 percent fixed what's the best way and order to pay these off? Should I consolidate them? i've been paying the income contigent plan for the 19760 federal loan and learned i havn't paid a dime of the princiap last year?!?!?! i just want to get these paid off i hate having debt. any ideas or suggestions? should i consolidate?

Public Comments

1. Consolidation is a smart idea because right now many companies are getting government help to increase their lending. Plus, through consolidation, you'll be able to lock in the same low rate for all your loans. Best advice, do your homework. Sometimes the payment after you consolidate is the same or more than before you consolidated so ask questions about your estimated montly payment BEFORE you accept the consolidation agreement.