I have two student loans that I am paying on. One for around 60K at about 5% interest (Loan A). The other is about 14K at about 11% interest (Loan B). I am paying about $350 a month on each loan. So $700 a month in total.
My question: Would it be beneficial to put Loan A in deferrment for a year and half or so, and put all $700 towards loan B in order to get it paid off? Or what other suggestions or options are there?
Financial advice question regarding student loans.?
Can you consolidate your loans into one from the same lender? I have that with my student loans, though mine aren't as high as yours are, i'm now down to owing $18,000 or so. I pay a little over $100 a month for both loans together. See if your lender would be willing to do this. I get mine through AES Success. Good luck!
Financial advice question regarding student loans.?
El Presidente Bush just recently signed legislation regarding lowering interest rates on student loans. The last time loan rates were down for students, loan consolidation companies were pounding on my door to %26quot;refinance%26quot; at their lower rates.
Inquire with your lenders about the pending reduction in student loan interest rates, and if they offer consolidation of your loans.
Good Luck!
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