Can I consolidate students loans and credit card to get a lower monthly payment?
I have 3 student loans out from college: 1 state, 1 federal, and 1 from my bank and a maxed out credit card that I am paying off. Is there a way I can consolidate all of these together for a lower monthy payment? Right now I pay each bill seperatly and the interest rates keep climbing! Any advice? I am under the impression that I cannot consolidate state and federal loans together…am I wrong about this?
You won’t be able to consolidated your student loans with your credit card. I guess you could get a personal loan to pay off everything, but that is a terrible idea.
Consolidate your student loans into one payment, that will help. You should apply at a couple of places as they all have slightly different perks. (discounts for auto deduction of payment, on time payment discounts, etc.)
A couple you can try is Student Loan Advisors at http://www.StudentLoanAdvisors.com/ and Chase Bank has an online student loan consolidation offer you can find through http://www.usadegrees.com/consolidate/
After you consolidate your the student loans, you can put the extra money each month toward paying off the credit card.. I think that would be the best way to handle your current situation.
Good Luck!
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You can consolidate all your loans. It’s done commonly and make wise financial sense.
By consolidating, you not only reduce yourr long-term debt but you can also help change your credit score for the better over time.
One of the better sites for info on how to do this is at
http://www.collegecashplace.com
Sounds like you’re on the right track. I wish you the best!
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