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Personal Finances / Paying Back Student Loans


Subject:  Private Loan Consolidation Date:  2/12/2006  12:35 AM
Author:  webbdesigner Number:  4105 of 4854

Looking a private loan consolidation options. It seems that there are no fixed rate possibilities out there.

If I cannot find a fixed rate, would it be better to have an interest rate that is set above the 3-month LIBOR, or above prime? What about consolidation advertisements that indicate UP to a certain percentage over prime? Aside from extending the term of the loan, is there any benefit then, to consolidation of private loans (particularly if they're with the same lender?)

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