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Hello everyone, I am looking for some advice on student loan consolidation, or any other methods of tackling a bunch of debt.. I currently have a total of 11 loans, totaling just a little over 100k worth, and interest rates ranging from 3.4% to 9.74%. These loans are serviced by two different servicing companies, one which gets a monthly payment of $781 and the other gets $281. These are the minimum payments on a 15 year payoff plan. I just graduated college and got a decent job, but I was kind of forced into moving out and living in an expensive area and will be stuck here for a little while. I make about $1,550 every two weeks, and have monthly expenses adding up to about $2,000 (BEFORE student loan payments). I am working to reduce my monthly expenses, but I live in an expensive area and will be stuck here for at least a few more months. I have a roommate, but bills are still tight. I have about 8K in savings as an emergency fund.

I am wondering, would it be worth it to consolidate my loans and have them serviced by just one company? Could I get a lower payment and interest rate? Where are the best places to look? Does anyone else have any pro tips for this type of situation? I am very grateful for any help and advice.

Here is a current breakdown of my loans:

Provider -- Amount -- Interest Rate

Discover - $26189.09 - 9.74%

Discover - $25223.22 - 7.99%

Discover - $22823.33 - 8.99%

Direct Subsidized - $3590.09 - 3.40%

Direct Unsubsidized - $2552.19 - 6.80%

Direct Subsidized - $3568.42 - 3.86%

Direct Subsidized - $5500 - 4.66%

Direct Unsubsidized - $2192.26 - 4.66%

Direct Subsidized - $5500 - 4.29%

Direct Unsubsidized - $2091.49 - 4.29%

Direct Unsubsidized - $2235.98 - 3.86%

EDIT: My expenses are as follows (Monthly):

Rent: $1150 (hoping to move out in about 6 months to something cheaper)

Groceries: $300

Car insurance: $100

Comcast: $100

Electric: ~$120

Water: $60

Savings: $200

Gas: $ 90

Misc: $ 100



Submitted February 13, 2017 at 10:07AM by plzdontmakemepay http://ift.tt/2lH8XNM

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