Student Loan Consolodation choices

I can consolodate my loans with about 3 or 4 different vendors. (SallieMae, FinancialAid.com, et al.)

Does anyone know if it matters which vendor you choose? (Assuming that interest rates are similar?)

 

Although the intersets rates may all be similar because the federal goverment controls the interest rates for federal consolidation loans provided by a loan servicing company, many of these companies will offer additional interest rate cuts based on electronic withdrawal and good payment history. I do know that my federal consolidation loan through Collegiate Funding Services (www.CFSloans.com)droped an additional .25% for electronic withdrawal and after the first 36 months on time drop an ADDITIONAL 1 %. The new rates effective July 1, 2002 will be in the 4.86% range. Other companies such as Sallie may and Citibank have similar programs. I did notice a difference on the length of time before dropping the additional 1% so you may want to shop for this.
Christos

 

Christos,

Good advice. Thanks.
(I'm kind a control freak with money, and I hate to authorize electronic withdrawls ... so I may end up paying the regular rate anyway. I'll weigh this in though ... this may be the one case where I end up making an exception.)

Thanks again,
- Ellis