RE: Student Loan Consolidation- benefits and good companies to do it through?
You can’t consolidate federal loans with private ones so if you are looking for just one payment, that’ll never happen. Also, for the amount you have borrowed… 800 a month is not bad.
I would recommend NOT consolidating because lowering your payment just increases the amount of time you pay on it… (from a 10 year payment plan to a 30 year payment plan -for example). As a result, this significantly increases the amount of interest you pay over the lifetime of the loan. (Companies don’t offer you consolidation options because they like you… they do it because it makes them more money).
If you can afford the payments, keep paying them and get them paid off as quickly as possible and hope you doesn’t die in the near future because your private loans will still have to be paid off…. by your cosigner.