ANOTHER Consolidation ?

[bhpepper]

Ok -- sorry to go through this again...

 

I have a consolidation loan ( done 99' wife and myself) with direct loans.

 

I also have student loans through wells fargo.

 

Both are at ~ 7%

 

Educational Direct is pressuring me to consolidate. They threaten that if i do not sign up, my rates will go up 2%

 

 

Can SOMEONE help me understand (in short order) what i should do/ can do?

 

Thanks

[LynnInMN]

Ok -- sorry to go through this again...

 

I have a consolidation loan ( done 99' wife and myself) with direct loans.

 

 

I also have student loans through wells fargo. F

 

Both are at ~ 7%

 

Educational Direct is pressuring me to consolidate. They threaten that if i do not sign up, my rates will go up 2%

 

Fixed rate interest rates do not go up and the government just upped the interest rates at 6.8%. Ask Education Direct which law dictates that your loan would go up further.

 

Can SOMEONE help me understand (in short order) what i should do/ can do?

 

It probably wouldnt hurt to reconsolidate the whole package. Your interest rate would pretty well remain the same.

 

Thanks