Has Anyone Consolidated Student Loans with cuGrad? | TigerDroppings.com

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GaryMyMan
USA Fan
Lower Garden District
Member since May 2007
10794 posts

Has Anyone Consolidated Student Loans with cuGrad?



I was perusing my Credit Karma report when I saw this recommended to me for my enormous student loan debt. The loans are serviced by participating credit unions rather than NELNET or Sallie Mae. They advertise that rates are as low as 4.9% for a 15 year loan. Compared to the 6.8% I'm paying now with 9 years left on my repayment schedule I think I could save a good bit of money if:
1) I continue to pay the same monthly amount I already do.
2) The APR doesn't change - the contract says it can, up to 4 times per year.

So: should I mess with this or stick to the usual route?







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GaryMyMan
USA Fan
Lower Garden District
Member since May 2007
10794 posts

re: Has Anyone Consolidated Student Loans with cuGrad?


So that's a big fat no. I guess I'll stick with Sallie.





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Port City
LSU Fan
Baton Rouge/Shreveport
Member since Jan 2007
3665 posts

re: Has Anyone Consolidated Student Loans with cuGrad?


I looked into it after seeing your post. Seems like it might be good in certain limited situations but I wouldn't do a variable rate with a large sum of money. Also, can only be used with private loans which would exclude a large number of folks (myself included).





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