Consolidating?
This is my partners current situation:
Loan 1 - $12,750 Interest Rate: 9.100%
Loan 2 - $8,554 Interest Rate: 15.750%
Loan 3 - $17,120 Interest Rate: 15.750%
All private loans taken for school. They’re all fixed interest. His mom can get a loan for the total amount (~$38,424) at 5% interest for the first 6 months then 8.1% after that. (She has no problem doing this and offered herself.) I’ve crunched the numbers and it seems this would be a much better deal than the current situation, but I often see people saying not to consolidate and don’t know much about it myself. Nervous and don’t want him to end up in an even worse situation so I wanted to double check on here! TYIA.
Posted Dec 7, 2025, 5:02 AM UTC
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