Loan consolidation? $75k at 12%
04-25-2016, 07:14 AM
#1
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Joined APC: Feb 2016
Posts: 377
Loan consolidation? $75k at 12%
I have long had a college degree that is paid for, but I had to finance the full cost of flight training from zero time to CFI.
That is about $75k total, and Sallie Mae gave me a fixed rate of 12%.
Payments are going to be about $1000/month and start 6 months after training.
Once I get a job with the regionals in just over a year or so, I will want to refinance this abuse ASAP.
Does anyone have any experience with refinancing this sort of thing? Are the regional credit unions any good? Is there another place I should look?
That is about $75k total, and Sallie Mae gave me a fixed rate of 12%.
Payments are going to be about $1000/month and start 6 months after training.Once I get a job with the regionals in just over a year or so, I will want to refinance this abuse ASAP.
Does anyone have any experience with refinancing this sort of thing? Are the regional credit unions any good? Is there another place I should look?
04-25-2016, 07:49 AM
#2
Gets Weekends Off
Joined APC: Feb 2007
Position: Pawn
Posts: 1,138
I have long had a college degree that is paid for, but I had to finance the full cost of flight training from zero time to CFI.
That is about $75k total, and Sallie Mae gave me a fixed rate of 12%. Payments are going to be about $1000/month and start 6 months after training.
Once I get a job with the regionals in just over a year or so, I will want to refinance this abuse ASAP.
Does anyone have any experience with refinancing this sort of thing? Are the regional credit unions any good? Is there another place I should look?
That is about $75k total, and Sallie Mae gave me a fixed rate of 12%.
Payments are going to be about $1000/month and start 6 months after training.Once I get a job with the regionals in just over a year or so, I will want to refinance this abuse ASAP.
Does anyone have any experience with refinancing this sort of thing? Are the regional credit unions any good? Is there another place I should look?
Good luck.
04-25-2016, 02:05 PM
#3
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Thread Starter
Joined APC: Feb 2016
Posts: 377
Some of the guys I went to ATP with had success with Wells Fargo. They were able to get rid of Sallie Mae and get a much lower interest rate. 12% is huge. I took out $35,000 in 2012 at 7%, but I elected to not try to re-finance it. Luckily I only owe Sallie Mae $4900 now. She's not getting anywhere near the interest out of me that she thought she would.
Good luck.
Good luck.
Hoping to refinance all of it asap and was just wondering the best way to do that
04-25-2016, 03:32 PM
#4
On Reserve
Joined APC: Mar 2016
Position: Ground school
Posts: 15
Doing most of mine through federal loans but will be at the mercy of either sallie or wells fargo with a co-signer for the remainder needed. Keep the info coming guys!
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