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Anyone have experience consolidating student loans through a credit union?

Posted on 6/11/14 at 10:11 am
Posted by Redfish2010
Member since Jul 2007
15171 posts
Posted on 6/11/14 at 10:11 am
The interest rates from fedloan and salliemae are between 6.5% and 9.25% and I feel like there's got to be a way to get a lower rate. I've got pretty good credit and am in the housing market as a first time buyer. Since the fedloan separates the loans into several different categories, it's showing that I have debt owed to several places. My lender seems to think it would help me to consolidate these payments.

Thanks in advance.
Posted by lsujro
north of the wall
Member since Jul 2007
3927 posts
Posted on 6/11/14 at 10:33 am to
search the board for sofi.com. a few people (myself included) have used it now. i'm very satisfied with my results. consolidated >$70k at 4.4%.

eta: if you use them, feel free to use this link. we would both get money back if you refinance with them. LINK
This post was edited on 6/11/14 at 10:35 am
Posted by Old Hellen Yeller
New Orleans
Member since Jan 2014
9423 posts
Posted on 7/7/14 at 11:55 am to
Unless the private rate is significantly better I would keep the Fedloans with the government, if only for how flexible they are on repayment terms, forbearance, deferments, forgiveness, etc. Not saying you will ever need it, but it's nice to know it's an option if the worst happens.
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