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Thread: Consolidation of my adjustable rate private school loans to a fixed rate loan?

  1. #1

    Consolidation of my adjustable rate private school loans to a fixed rate loan?

    I've never been able to find a good deal out there to consolidate and fix my private school loans... Does anyone know of any good deals with reputable lenders? I'm trying to protect against the future rise in interest rates and this is probably a good way of doing it. I'm trying to pay off these private student loans as quickly as possible and saving like crazy while the rates are low.



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  3. #2
    bump - I want to do the same thing with my private Citibank issued student loans. Right now the rate is only 5% but that is adjusted every quarter...

  4. #3
    Sallie Mae is probably the best option if you're trying to consolidate private loans. I think you're going to have a hard time getting a fixed rate if you combined a bunch of variable-rate private loans. However, it could be in your best interest to consolidate because they will spread the loan term out to 30 years instead of 20 and more than likely you will get a better rate now than when you originally signed up for the loans as you started school.

    If you have a parent with an outstanding credit rating, ask them to cosign the consolidation and you might save a point or two of interest.



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