Interest on student loan consolidation - 5 tips to get the best price

College or Graduate School of Education is that you can carry proudly for the rest of his life. End quote means that you can rest assured knowing that you have the foundations in the depth of learning that can begin the process of life and inspire thoughtful.
 

Many of the graduates, along with the pride of accomplishment that accompanies college graduation comes the burden of student loan debt. It is not uncommon for graduates to easily carry a hundred thousand dollars of the debt burden on his shoulders for many years after graduation.
 

Depending on how it goes with the job search after graduation, and college graduates can earn enough money to pay monthly mortgage payments for the first glance. However, with time and new requirements, such as buying a home and family are starting to get piled up on graduates, and the president can student loan payments become increasingly difficult.
 

Important to make the monthly payments on student loan can be difficult especially for those who have several loans to students. There is more than one loan, the student needs to pay for different lenders, as a general rule, payments on different days of the month. This is inconvenient, to say the least.

Consolidate if you can find a good price
An excellent solution for graduates in this case is to consolidate student loans. Through the consolidation of private loans, and will have a single loan - which means the interest rate and payment and every month. And also let you split the payments up to 30 years old, it is very possible that the minimum monthly payment of your loan.
Of course, it's just a good idea to consolidate if you can get the best price of the average rate of their loans current.
 

How to calculate the rates of loans for the consolidation of student interest
If you currently have private loans for students, you want to promote through the consolidation of its lender. In this case, the rate is calculated based on the combination of the rate of the current Prime Minister (or another indicator of a normal type) and the additional margin determined by the score (FICO) of credit.
 

5 tips to get the best price
If you decide to consolidate your loans, you will want to do everything possible to qualify for the best price. The following 5 tips to do just that:
1. Run your credit report with the three major credit bureaus third: they determine the price of the new part of your credit score, start the integration process by running your credit report with TransUnion, Experian and Equifax.
2. Account the current weighted average interest rate: The weighted average interest rate of loans available. As a result of your account is the number to try to win with his new interest rate.
3. Research loan consolidation lenders: do some research online and create a list of at least 10 lenders that specialize in consolidating student loans. While you may be tempted to find one or two, remember that the odds of getting the best deal possible increase dramatically if you are applying with several lenders.
4. Research to keep the record: How you can compare lenders and be sure to keep accurate notes in Excel or a pencil and paper, including the name of the lender, and the contact name, telephone number, and rates and the credibility of the site.
5. Apply at least 5 lenders: Now you can begin to borrow. Remember that apply just 5 of the best banks examined.
In the end, and get the right student loan consolidation interest rate is knowing what type you are trying to win, and how to conduct their own research, and how to choose the right offer. So you can reduce your monthly payments of $ 100 or more.