Who to consolidate with?

[SnowymtnRN]

I have student loans with Nelnet, Sallie Mae and Colorado Student loan association. I got the paperwork for consolidation with Nelnet, but who should i consolidate with? Them or Sallie Mae? Does it matter one way or the other?

[SnowymtnRN]

anyone? Dh thought that Nelnet was a for profit organization, and Sallie Mae also does mortgage loans, so maybe Sallie Mae would be the wiser choice???

[eeyore]

I consolidated with Sallie Mae and it was a pretty painless process. I have to confess though, I never heard of the other 2 organizations.

[SnowymtnRN]

Well i decided to go with Sallie mae in case it might help me later for a mortgage. They did everything over hte phone, and for 17K worth of student loans, it will be a 15 year note with 4.124% fixed rate interest. Payments will be $120 so i didn't think that was too bad to be honest!!!!

[publius]

Iowa Student Loan will drop your interest rate by 0.75% after only 6 on-time payments.

[bimmerbenz]

Utah Higher Education Assistance Authority (www.uheaa.org) will give you a 1.25% interest rate reduction for signing up for automatic payment withdrawal and another 1% after making 48 payments on time.

 

Bimmerbenz