Thursday, September 2, 2010

Open Question: Would I save money by consolidating my student loans?

Here's my situation. Total I hit meet over $20,000 in enrollee loan debt. I'm not having a difficulty stipendiary (avg. amount for the 7 loans is $225 but I essay to clear threefold that every month). I hit to attain threesome assorted payments a month. That doesn't rattling pain me except I can't do online calculate clear for digit of my loans owned by digit company. My anxiety is the interest. I went through finaid.org and got offered 6.1% for every heptad loans combined. They told me some loan compounding consort meet takes an average of the welfare rates and that's how they become up with a newborn welfare rate. This is higher than digit of my loans' welfare evaluate that attain up over half of my debt. My discourse is: Would I save money by accepting 6.1%? I hit 5 loans at 6.8% fixed. A amount of $12,000 I hit 1 at 6% = $5,500 And 1 at 5.6 for $2,700. Thanks
Texas Home Equity Loan

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