Sallie mae rates consolidating student loans


The Stafford is a low interest Federal loan that is designed to help students with little to no credit afford college.The Stafford loan is intended as a supplement to the students own financial resources, scholarships and/or grant money.

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You should consult with your own financial advisor before making any major financial decisions, including investments or changes to your portfolio, and a qualified legal professional before executing any legal documents or taking any legal action.

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But with $100,000 in debt, you probably have some private loans in your portfolio, too.

And I am going to be straight with you: Private college loans are not ideal at any time, especially now, when many lenders have left the student loan business or curtailed their lending in the wake of the financial crisis. With a private loan consolidation, your FICO credit score will determine both whether you get a loan and what the initial rate will be.

When you consolidate multiple student loans or refinance a single student loan, you may receive a lower monthly payment with a reduced interest rate or an extended repayment term.