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Debt Relief – Insolvency – Bankruptcy Information » Student Loan Help » My wife’s student loan fm AES is OVER 10% interest: as a single loan, is there any “consolidation” option?

My wife’s student loan fm AES is OVER 10% interest: as a single loan, is there any “consolidation” option?

I know that consolidation from multiple loans is possible, I just would like to know if there are any lower interest options out there. American Education Services is killing us with this high interest – and the quicker we pay it off, the higher they raise the interest!

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3 Responses to "My wife’s student loan fm AES is OVER 10% interest: as a single loan, is there any “consolidation” option?"

  1. payingcollege says:
    It is possible to consolidate single loans if they have not been consolidated before.

    If the interest rate is 10%, it sounds like it must be a private student loan (as opposed to federal)? Typically private student loans (including consolidation loans) are credit-based. Since they’re not backed by the gov, there’s higher risk to the lender. So, if you consolidate with another lender, you may not be able to get a better interest rate.

    Some options for you would be to get a cosigner with good credit, or work on your wife’s credit score *before* you try to consolidate with another company.

    Here’s some good info on maintining/improving a good credit score: http://www.salliemae.com/before_college/planning-wisely/debtsmart/repayment/maintain_rating.htm

    And here’s some info on private student loan consolidation: http://www.salliemae.com/content/privateconsolidation/more_info.html

    Hope that helps.

  2. carlos says:
    There you go : http://students-loans-consolidations.com/

    You’ll be able to get 7%, depending on your credit experience, assets, income.

    Good luck !

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