Warning: include() [function.include]: URL file-access is disabled in the server configuration in /usr/home/ms/domains/hurryloan.com/html/answers.php on line 78 Warning: include(http://www.hurryloan.com/rightbar.php) [function.include]: failed to open stream: no suitable wrapper could be found in /usr/home/ms/domains/hurryloan.com/html/answers.php on line 78 Warning: include() [function.include]: Failed opening 'http://www.hurryloan.com/rightbar.php' for inclusion (include_path='.:/usr/local/share/pear') in /usr/home/ms/domains/hurryloan.com/html/answers.php on line 78   Go Back To Search Results Question How do I consolidate student loans from different lenders? I have three loans from three different lenders. Who would buy up all three of my loans and give me a decent interest rate? I have good credit. By phildarthebuildar Posted on 04/28/07 Total Answers 2 Answers- Go to Salliemae.com Answer by : 123abc On Date 2007-04-28 11:12:38 It's never a good idea to consolidate student loans because you are already getting the lowest loan rate available. Just pay off the smallest loan by adding payments to it and pay the minimum on the other loans... then pay off the next smallest loan until they are all done. Even if you got the same rate by consolidating, you lose, let me explain: It will increase your loan payment. This is not good b/c you will be less likely to add extra payments this way... all extra payments go on the capital... not the interest. Also, there are often hidden charges for consolidating... so check that out first. If the payment is less, then you also have a problem because that means that they have extended how long you have to pay your loa, therefore charging you more interest... banks love that!!!! Do you want to keep your money or give it away???? If you had to consolidate, I'd choose ING as your bank of choice. Good Luck! Answer by : babygnugnu On Date 2007-04-28 11:19:44   Go Back To Search Results