Ask Me About Student Loans!

The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > Ask Me About Student Loans!

Aericina: Mar 3, 2005; Meez, please.

Wiggy, I have a question about NTHEA consolidation. It looks like they have some kind of partnership with EdFinancial when you go to fill out the application. Is the loan serviced through EdFinancial or actually through NTHEA? I can't really tell that it will go through NTHEA instead of EdFinancial.

The reason I'm kind of concerned about this is that all my loans are through EdFinancial. The online app asks for username and password information, and I'm wondering if I use my existing username and password, will it try to consolidate under EdFinancial's terms or NTHEA's terms. I obviously prefer NTHEA's terms and just want to make sure I do it right.

Also, in your opinion, which is better? Equal payments, interest only starter payments or interest/balloon?

Aericina fucked around with this message at 02:22 on Jun 19, 2007

# ¿ Jun 19, 2007 02:19

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# ¿ May 1, 2024 06:05

Aericina: Mar 3, 2005; Meez, please.

Wiggy Marie posted:

First of all, THANK you for also posting this on my board!!! For that alone, I love you forever!

Edfinancial is the servicing agent of NTHEA. So NTHEA will consolidate and then own your loans, but Edfinancial will do all of the servicing.

In order to consolidate with NTHEA, you have to go to their website:

http://www.nthea.com.

You may also call them directly and request a consolidation application be sent to you.

I my humble opinion about payments, it depends on your ability to pay. Equal payments will allow you to pay less over the life of your loan, which is never a bad thing, but if you use an interest-only plan you can play around with your payments more.

What I would recommend is use the interest-only plan if you need to, and just make higher payments than it calls for. That way if you ever need to pay less one month, your monthly minimum will already be lower so you already have some payment flexibility built in. You are never penalized for paying above what's due, so use that!!!

Thank you for that info. I was on their site earlier and when I went to click on the electronic loan application, it sent me to EdFinancial's website. That is what confused me. So in your opinion it would be ok to use that site/my existing username/password? I suppose I could just print out the application and fill it in manually if I was that worried about it. I just saw nothing on the EdFinancial site that said it was an NTHEA app and not an EdFinancial one which is why I am confused.

# ¿ Jun 19, 2007 03:27

The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > Ask Me About Student Loans!