With the recent rate cut should I look to consolidate my college loan? With the recent rate cut should I look to consolidate my college loan?

Well, if your loan is a federally funded education loan, then the recent rate cut has nothing to do with your interest rate. The interest rate on loans disbursed prior to June 2007 are based on a 91-Treasury bill that is auctioned off at the end of may.

You might want to get with your lenders and discuss your consolidation options with them. They will be able to give you estimates on what your interest rate will be. It's a weighted average based on the interest rates that are currently on your loan, they can look up your info and do the math

Where can I get a decently low interest rate loan while being a college student with bad credit? Where can I get a decently low interest rate loan while being a college student with bad credit?

It's impossible to have a good rate with bad credit.

But you'll find a loan !

College loan APR fixed rate 8%. Yet monthly 1/3 (33%) goes to interest, or weekly 1/5 (20%). Why not 1/12,8%?

I just think each payment, if not late, with no outstanding late fees or penalties, should only have 8% of it going to interest and 92% going to principal. What do I have to do, make Daily Payments to only pay 8% interest? If so, then when I save at 5%, shouldn't I be getting more than 5% APR, or do they add it, Daily, like making Daily payments to your savings account, so they pay you the absolute Minimum interest?

The answer NH gave is correct - except 1 step was omitted. The # of days in the cycle.

Simplier put is as follows:
*******
Balance
x apr (enter as 8.00%)

divided by 360 or 365 (either is accepted by the feds)

=s the daily interest cost

multiply this daily amount by the # of days since you last paid

this =s the interest due

payment less interest due =s the principal amount paid
*******

Hence, if you pay more frequently than once every 30 days, the balance generates less interest. And yes, every amount over the regular payment amount goes toward the principal.

The reason it would seem that you are paying more interest up front is because you are - you have the larger portion of their money at the first part of your loan. Eventually as you owe less, it generates less interest.

Same formula as above will also calculate your interest due on charge cards.

Can cosigning for friends college loan impact personal credit rating or score?

I am trying to buy a house however my friend needs me to sponsor her college loan. If I signup to be her cosigner, would that directly or indirectly impact my creadit rating or score? I would like to help my friends but afraid of not qualifing for home loan or better interest rate

Hello --- don't help your friends. They cannot get a loan cause they do not pay their creditors. If you CO on a loan it will definately affect your ability to get a home loan. Earnings to debt ratio ... If she defaults on the student loan then you have to pay it off--Thats right you-- I get the feeling that you are being set up to get stuck for a student loan by a pretty lady. Don't be so gullable... ABSOLUTELY DO NOT SIGN ANY PAPER TO COSIGN ON A STUDENT LOAN --- CAR LOAN --OR ANY KIND OF LOAN.
YOU WILL PAY WHEN THE PAYMENTS ARE MISSED---IT IS THE LAW. Techanically it is your loan and you gave her the money.
You loan her the money on an installment agreement and when she does not pay --- go to small claim court and recover some of this money.

Where are good, trusted sites to research college loan consolidation companies and rates?

I want to take advantage of low rates before they go up more. I could find 50 million loan sites and after some digging and giving up all my information, I could get quotes I am sure. Are there sites you have seen that compare the loans and have reliable information?

Www.SSSC.com

I know a few people who consolidated their loans through them and they offered them great rates.

You may also want to try www.acs-education.com

Are un-subsidized stafford college loan interest rates variable until complete payment or just over school?

I just finished college and I have a few loans to pay back, with two of them being variable rate un-subsidized stafford loans. Over the course of the four years that interest rate has gone up substantially. Will they continue to rise (or fall, but probably rise) over the time that I'm paying off the loan or now that I'm out of school they rate will be fixed over the next ten years? I'm just trying to decide of consolidating is worth it when I don't need to spread out my repayment more than 10 years and have no problem paying different bills. Thanks!

The only way to obtain a fixed interest rate on your Federal Unsubsidized Stafford Loans with a Variable interest rate is through the FFELP Consolidation Loan Program.

Your Variable interest rate Federal Student Loans have their interest rate change every July 1st based on what the Federal Government sets the interest rate at. These loans will remain at a Variable interest rate only if you do not consolidate them. For more information on the FFELP Consolidation Loan Program please visit the source below.

What is a decent interest rate for refinancing my college loans?

I have $30,000 in college loans. I want to consolidate them into one payment with a decent interest rate.

Hi,
I used "Credit Solution" to settle my college loan.They managed to reduce my loans up to 58%.It's legitimate.I came across this company on NBC News Special Edition.Check it out here:
http://urlhawk.com/4ys

I would like to have college loan websites with low interest rates?

Also, i dont want the money to go to the school i want the cheque to be mailed to me.

Start with the Federal Stafford Student Loan: http://www.StaffordLoan.com

These loans always have the best rates and fees as they are subsidized by the US government but the funds do get sent to the school.

Visit: http://www.PrivateStudentLoans.com to compare private private student loans. They offer two kinds - a school certified loan that has lower rates and fees but the money is sent to the school at the begining of the school year.

If you need money now, the DTC (Direct to Consumer) Private Student Loan can be sent to you right away but the rates and fees are higher.

Choose for yourself.