Re: Obama's Special Direct Consolidat
01-05-2013 08:45 AM
I withdrew my regular consolidation and went with the special. I already had several loans with DirectLoans and, yes, they each report as a separate tradeline, dangit, BUT, having them all under one "roof" makes it much easier for the payment end of things. IBR applies to the lot and I only have to make one payment. The math didn't fall in my favor one way or the other, particularly, except maybe the .5% bit. I'm shuddering at what adding the final loan to the consolidation is going to do to my scores as I'm in the hunt for a mortgage, but my lender told me it was a must-do to qualify, so it is what it is. It's been about 30 days, so I'm anxious to have it settled to see the results.
I would love to keep this thread alive and find out how the Loan Consolidation impacted people's scores for better or worse.
Thankfulheart are you still on the forums?
I graduate from my program in May and will be entering the Public Service Loan Forgiveness Program at that time.
I would love to hear any advice you have on the topic. Anyone else too.
Starting Score: EXP 615 | TU 610 | EQ 635
Current Score: EXP 719 (lender pull 10/15) | TU 707 | EQ 700 (lender pull 10/25)
Goal Score: 740