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Getting best rate during Student Loan Consolidation?

I have $120,000 in 9 student loans with a monthly payment of $1,084.

$22,000 are Federal
$98,000 are Private

My FICO is 725 and my debt-to-income is currently 43%.

Is now a good time to consolidate student loans?

How do I choose a bank that will give me the best rate for my private loans?
I’m currently with Wells Fargo (Note: Chase isn’t accepting applications, right now)

I’m going to consolidate the private and federal loans separately to take advantage of the federal loan perks, if needed. Should I consolidate my private or federal loans first, to improve my debt-to-income for the second? Or will it matter?

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3 Responses to "Getting best rate during Student Loan Consolidation?"

  1. just not that says:
    You are going to be hard pressed to find a bank to consolidate with. For your private loans, you may have no choice. Try Sallie Mae and Wells Fargo. Those are about the only ones doing loans right now. The best way to get a good rate (even for a consolidation loan) is to have a great cosigner with an awesome credit score and a very high income and long employment history. If you don’t know anyone like this, you may not be able to consolidate.

    Doing one before the other isn’t going to matter one way or the other.

    Personally, consolidation isn’t always a good option. I had 7 loans upon my graduation and never consolidated. All consolidation usually does is extend the lenghth you pay on the loan even LONGER.. giving the bank yet even MORE of your money. For just a few bucks less a month in payments. I wouldn’t consolidate… Once you do your stuck. And for those federal loans, once you consolidate, you loose some of the perks of federal loans. You can’t consolidate private and federal loans together anyway.

  2. Mam says:
    Student Loans
    Check the site thoroughly. It’s an excellent site with some wonderful options for you. It will definitely help you. Have a look.

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  3. Niki says:
    Check the site thoroughly. It’s an excellent site with some wonderful options for you. It will definitely help you. Have a look.

    http://loan-house.we.bs/loanconsolidation.html

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