My Citibank Graduate Assist loan just kicked into repayment.
MERRY CHRISTMAS!!!
Ugh…
My two consolidated student loans (a Direct Loan and a NJCLASS loan) are both well above the $50,000 mark. This Citibank loan, though, is about $7,500.
So, I’m going to decimate this one in no time. As a matter of fact, I’m putting off all luxury purchases and unnecessary purchases until this pittance of a loan is paid off.
Stupid student loans…
WOULDNT IT BE CHEAPER TO GET THEM ALL UNDER ONE LOAN AND PAY THE ONE PAYMENT
Ah Dave, you would think that.
The NJCLASS loan won’t allow you to consolidate with anyone but them. Even though they are passed on to New Jersey college students when they fill out their FAFSA, they are really a private company with extremely strict rules.
Then you have the federal Direct Loans. They’re more easy to consolidate with, but remember – NJCLASS won’t allow their loans to be consolidated with anyone other than themselves.
So it becomes a matter of interest rates, right? NJCLASS has their interest rates around 7.5% + while Direct Loans has me locked in at 4.25%
Why would I move my Direct Loans anywhere else? And this small Citibank loan – I’d rather just keep it where it is because it at least allows me to attack the loan and pay it off much quicker than I can pay off the two consolidated loans that I have.