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Wiggy Marie posted:The interest rate is federally regulated, so what you can do is consolidate with someone who offers incentives on top of the rate. You know who I’m gonna recommend, so don’t make me repeat myself I have a lot of questions about loan consolidation. As I understand it, you can only consolidate once with a bank, but you can later re-consolidate with a different bank, correct? Are you allowed to do that as many times as you want, and if so, does that mean that every July 1 that the interest rate goes down, it benefits you to change banks? If you're consolidating with a new bank, do they honor incentives and perks you've earned from your first bank for on-time payments and such, or is only the federal interest rate considered? As a corollary, does it make sense to change banks at different periods over the life of your loan if different banks have better incentives during those periods - for example, changing to Citibank for their 'graduation present' interest reduction, then switching to NTHEA for their principle reduction? Finally, do you have any information on banks that do consolidations of private loans?
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Jan 12, 2007 14:39
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| # ¿ Apr 27, 2024 17:35 |
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