Hi, I have 2 federal student loans: $49K @ 2.75% fixed, and $11K @ 6.8% fixed. If I consolidate, I get a fixed rate of 3.5%. Should I do this? Will I be saving money in the long run or not? Or should I just pay the $11K loan separately instead? I have a credit card that offers a 4.99% fixed rate over the life of the loan. Please advice!
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Should I consolidate my student loans?credit bureau
Heck yeah.... if the rates are that good, I think I should look into consolidation too!
If consolidation extends the life of the loan, you%26#039;ll pay more, but you%26#039;ll have a lower monthly payment. So you%26#039;ll need to decide if you want to be out of debt sooner or you want to have more leeway in your budget.
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