Consolidate Student Loans Coalinga CA

A college graduate is paying varying interest rates on multiple student loans.

Bank of America Fowler Branch
(559) 834-5302
128 N. 6th St.
Fresno, CA
Farmers & Merchants Bank
(562) 621-1430
4827 E 2nd St
Long Beach, CA
(714) 329-0177
554 S. Revere St.
Anaheim, CA
First Bank
(415) 781-7810
550 Montgomery St.
San Francisco, CA
Bank of America Shields West Branch
(559) 445-7225
1111 W. Shields
Fresno, CA
Fremont Bank
(415) 243-0700
200 Townsend St.
San Francisco, CA
Wells Fargo Fresno Commerical Banking Office
(559) 437-3044
8405 N Fresno St #200
Fresno, CA
Advance America Cash Advance
(408) 225-0480
5568 Monterey Hwy
San Jose, CA
State Bank of India (California)
(559) 225-2264
2787 W Shaw Ave #101
Fresno, CA
City National Bank
(818) 265-5656
550 N. Brand Blvd., #100
Glendale, CA

Consolidate Student Loans

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Q: I wanted to know if it is better to make payments to my current student loan of $200 per month at a 6.8% interest rate or if I should continue to pay on my past loans at 3.25%.
Thanks for your help!

A: Students who are making payments on their student loans face the challenge of having multiple interest rates to juggle. This is a common situation where you consolidated your undergraduate loans at a lower interest rate and took out new student loans at the current interest rate. 

The current interest rate on Stafford loans is 6.8% fixed.  In comparison, when you separate from school again, you can be making payments on multiple interest rates. 

The best thing for a student would be to take all your student loan payments and combine them into one new consolidated student loan; this will result in a lower monthly payment, lower than what you had been paying keeping them separate. 

The most common reason graduates choose to go this route is to lock in a new loan with a much lower interest rate, which in turn creates more cash flow for you each month and more cash on hand for other expenses. 

Adam Hoffman
Quality Control Specialist

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