Consolidated Student Loans – reporting

[voter01]

I’m about to begin consolidating my student loans, and am planning to go with UHEAA because of their benefits (1.25% reduction for auto pay, additional 1% reduction after 48 payments). Has anyone had experience with them? Do they report properly? I’m working on my FICO scores, and don’t want to do anything that would hurt them long-term (I understand my scores will likely drop briefly as the new loan reports).

 

Also, if you know of a consolidation company that is better, feel free to add that info as well. Thanks!

[idtheftvictim]

I consolidated mine with citibank....I got 2.35%...and after 36 months they take it down to 1.45% I think....I can't remember very well....LoL

 

So you might want to check with citibank...

 

Any believe it or not, when I got the new tradeline reporting it helped MY scores...even with the other 2 loans being closed....

 

It worked out VERY much in MY favor....

[Dwayne]

I hope so, because I sent my consolidation application to UHEAA last week. I imagine they would report it, PHEAA reports my current loans. They're all separate and small, so I'm hoping combining them into one big loan will help. Plus, UHEAA's reduction of 1.25% using direct debit and 1% after 48 payments is awesome. The initial 1.25% reduction is as much as Citi's total reduction after 26 months and direct debit.