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Student debt consolidation

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Anonymous
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Student debt consolidation

I have $64,000 in student loans.   $22,000 is at 3.86 interest and the rest 6.8 %  both fixed. It look like it would be cheaper to do two consolidated loans one for  the

6.8% loans and one for the 3.8% loans?  Can I have two seperate consolidated loans. They are all sub and unsub loans

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1 REPLY 1
SCF
Valued Contributor

Re: Student debt consolidation

It sounds like these are all federal loans.  If that is the case, the interest rate on your consolidation loan will be the weighted average of your current interest rates.  It will be effectively the same.  In the consolidation, your subsidized and unsubsidized loans will be kept separate, so you'll still be able to target your payments toward the higher interest (unsub) loans if you want.

 

Are your loans currently with different servicers?  If so, consolidating would be a good way to simplify monitoring your loans.  If not, there's really no reason to do it.

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