Consolidate student loan or would that possibly be bad for my credit? I’ve read several of the older posts regarding this. I’ve decided that probably the Direct Loans from the Department of Education would be best if I do decide to consolidate. I have one Stafford loan, one for about 21k that’s at a reasonable interest rate (lower than 5.5, it’s been consolidated), that I’m not really that concerned about, I’m just going to pay it as it goes. But I have this one loan which is a Private Student Loan with a variable interest rate of 11.25% that I’ve had for about 4 years now. It’s at about 7k, which isn’t bad, but I know I can be doing better. If wasn’t so naïve about bad advice I probably never would have gone that rout. I know it’s my own responsibility, but I never really gave these things an honest look until the last month.

Consolidate student loan or would that possibly be bad for my credit? I’ve read several of the older posts regarding this. I’ve decided that probably the Direct Loans from the Department of Education would be best if I do decide to consolidate. I have one Stafford loan, one for about 21k that’s at a reasonable interest rate (lower than 5.5, it’s been consolidated), that I’m not really that concerned about, I’m just going to pay it as it goes. But I have this one loan which is a Private Student Loan with a variable interest rate of 11.25% that I’ve had for about 4 years now. It’s at about 7k, which isn’t bad, but I know I can be doing better. If wasn’t so naïve about bad advice I probably never would have gone that rout. I know it’s my own responsibility, but I never really gave these things an honest look until the last month.