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Posted: 5/15/2003 10:48:15 AM EDT
My wife has a considerable amount of debt in the form of student loans. We consolidated them about 3 years ago when the interest rates were much higher. Is it possible to refinance them in order to lower the interest rate? Any advice would be much appreciated. Thanks. -ruido
Link Posted: 5/15/2003 11:26:48 AM EDT
ruido- I'm still payin mine too. as far as i know you can refinance them. Check with the finacial institution that did the consolidation, they should be able to give you info on the options.
Link Posted: 5/15/2003 12:42:29 PM EDT
I think that you can only reconsolidate if you get a new loan (take another class, etc) or you pull in one that's never been consolidated before. Take that with a huge grain of salt because I know nothing of the subject, and I didn't stay in a Holiday Inn last night. Can someone help?
Link Posted: 5/15/2003 12:48:06 PM EDT
In MOST cases they can only be consolidated once...but it's been a while since I worked in this field...you may be able to consolidate them as part of a credit improvement/loan consolidating "package" i.e. along with credit cards, etc. but this may be at a higher rate then the usually low student loan rates you have now.
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