My words are all I have so I'll write them... (sorbetdelight) wrote in thequestionclub,
My words are all I have so I'll write them...

loan consolidation

So apparantly loan rates are going up and people are suggesting consolidating them. Is it the right thing to do or is it a scam?
One the one hand consolidating means the interest rates wont go up as they're supposed to this summer, on the other hand they say that you lose some of the individual benefits of specific loans. (In my case, I have maybe 4 different loans out so far totalling about $40,000).
So basically, has anyone done this and is it ok to do it while youre still in college if you havent graduated yet. And is it worth doing? Basically, how will I not get screwed over and be stuck giving all of my earning to the govt for the rest of my life?
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