Avatar
Please consider registering
guest
sp_LogInOut Log In sp_Registration Register
Register | Lost password?
Advanced Search
Forum Scope


Match



Forum Options



Minimum search word length is 3 characters - maximum search word length is 84 characters
sp_Feed Topic RSS contact-icon
Hi Loaners!
August 18, 2014
12:08 am
Avatar
New Member
Members
Forum Posts: 1
Member Since:
August 17, 2014
sp_UserOfflineSmall Offline

I can across this site looking into private loan consolidation and thought I would tell you a little but about myself. I graduated in 2012 from a private university. I have paid off all of my federal loans and am currently working toward paying off one private loan amount to $46,000. Little by little I’ve been making a dent in the principal balance. My current monthly payment in $343. (This is with a 7.25% interest rate.) I’ve been looking into private loan consolidation for a few months now, only to realize that even with my very good credit sore one of two things trips me up: 1. I still need a co-signer regardless of my good credit or 2. the institution simply cannot offer me a better rate than what I already have. Thankfully, I have someone who is able to help me with payments as I am in between jobs right now.
My main purpose for writing this introduction, is to warn against getting any type of private student loan. DON”T DO IT! They are difficult to work with, as very few companies deal with private loans, and if you are ever unable to make the monthly payments they are not able to be discharged in bankruptcy. I wish I would have known what I was really getting into before I signed on the dotted loan
However, with hard work and determination I know I will be able to pay off this loan.

September 7, 2014
11:28 pm
Avatar
Indiana
Admin
Forum Posts: 373
Member Since:
May 3, 2014
sp_UserOfflineSmall Offline

That is really great advice. Thanks for sharing!

Your wise words were part of the inspiration for the latest article I wrote, for people looking for their first student loan: https://studentloansherpa.com/…..dent-loan/

Forum Timezone: America/Indiana/Indianapolis
Most Users Ever Online: 27
Currently Online:
Guest(s) 1
Currently Browsing this Page:
1 Guest(s)
Member Stats:
Guest Posters: 174
Members: 7267
Moderators: 0
Admins: 2
Forum Stats:
Groups: 1
Forums: 5
Topics: 277
Posts: 815