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beautyq115
New Year!
Member since 5/05 13729 total posts
Name:
Me
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Regarding student loans...Consolidate or Graduated payments?
Little background...I have 3 degrees and lots of student loans. Degree one and two are already consolidated. Now my last and FINAL degree is not consolidated. I am wondering do I consolidate or choose graduated payments? Which is better???
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Posted 9/21/08 1:19 PM  |
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Re: Regarding student loans...Consolidate or Graduated payments?
Keep in mind that if you consolidate, the average of your interest rates become your interest rate. Graduated only means the bills get higher as time goes on. You know as a teacher, you'll make more over time, but take other life events that could occur in the future into account as well.
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| Posted 9/21/08 2:03 PM |
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beautyq115
New Year!
Member since 5/05 13729 total posts
Name:
Me
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Re: Regarding student loans...Consolidate or Graduated payments?
Posted by TheDivaBrideandTeddyFrog
Keep in mind that if you consolidate, the average of your interest rates become your interest rate. Graduated only means the bills get higher as time goes on. You know as a teacher, you'll make more over time, but take other life events that could occur in the future into account as well.
They are all at 6.8%
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| Posted 9/21/08 2:11 PM |
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saraH
happy birthday sweet kate!
Member since 5/05 16555 total posts
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I know that God exsists, I held her in my arms...
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Re: Regarding student loans...Consolidate or Graduated payments?
I did the graduated payments. I know I'll be paying that off for a while, so I'd rather pay a little now.
I don't know if it's "better" but it's what works for me.
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| Posted 9/21/08 2:49 PM |
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Cheeks24
Living a dream
Member since 1/08 8589 total posts
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Cheeks
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Re: Regarding student loans...Consolidate or Graduated payments?
Consolidate!
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| Posted 9/21/08 3:11 PM |
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Lucky09
2017!
Member since 1/06 7537 total posts
Name:
DW
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Re: Regarding student loans...Consolidate or Graduated payments?
Posted by beautyq115
Posted by TheDivaBrideandTeddyFrog
Keep in mind that if you consolidate, the average of your interest rates become your interest rate. Graduated only means the bills get higher as time goes on. You know as a teacher, you'll make more over time, but take other life events that could occur in the future into account as well.
They are all at 6.8%
Have you shopped around for Loan Consolidation rates? When I consolidated only 4 years ago, I was able to get a lower rate using automatic deduction.
Message edited 9/21/2008 5:17:35 PM.
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| Posted 9/21/08 5:10 PM |
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LINewbie
Tigger the the Rescue!
Member since 8/08 5647 total posts
Name:
LB
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Re: Regarding student loans...Consolidate or Graduated payments?
I posted in the other one, did'nt see this...
Consolidate. Always consolidate. You can also change your repayment plan once a year w/o penalty. And you can always pay more each month. Wghat plan you take depends on how high a payment you can make each month.
I don't know current interest rates, but you'd probably get a good one.
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| Posted 9/22/08 1:15 PM |
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