I have loans with Direct Loans ($33K total) and EdSouth ($19K total). I know NOTHING about consolidation, and the girl with Edsouth was less than helpful to say the least!

Is it best to consolidate through a company you are already working with (DL or Edsouth) or should i find a private company to do so? I notice the June hubub...so now i am all woried that i need to act really fast!

I am looking for, mainly, an option for lower payments, as my defferments end in August of this year. I would like to consolidate to have the lower payments "incase" something happens again and i get laid off, but i would plan to still pay a good amount towards them each month.


Also..any clue how much a consolidated payment with these figures would run per month?

I hope the questions make sense! Thanks in advance!

You guys are so helpful!

There's a lot I can't answer (and infact, want to see the answers myself!) but on the Direct website, if you look through the FAQ's, there a calculator that lets you get a prety good estimate of your payments under their re-payment plans.

That might at least let you know where you stand.

My list says that with 52k in SLs you can consolidate and stretch out payments for 25 yrs. At an interest rate of 5.3% you will have payments of 313.00 a month.

Hope that helps!

wowzers! Lol....well at least i will start to repay AFTER i pay off my $343 per month car note! almost an even trade!


Any opinion re: what company to use? Anything "bad" about directloans? about any private companies?

Can't make a recommendation on a company but were I you, I'd look for interest rate reduction for ontime payments, etc.