Student Loan Consolidation Rates?
Q: Has any one heard of Merlin Education Loan Consolidations? Is this a good company? 7.9% for 12 months then 3%+primerate A one time 8.9% loan origination fee. Also, is this loan still tax deductable? (Student loans are federally tax deductible as of 1998, right?)
A: -I would NOT be happy with the upfront charge. I would recheck Federal and State loans Stafford/Perkins stuff before I went too far. The Feds are offering some attractive student loan consolidation rates up thru 1/31/98. Sorry since they did not fit me. I didn't keep the details. Look some more! -7.9% for 1 year and prime + 3% and an 8.9% origination fee??? Most credit cards give you better rates with a 1% transaction fee. Deductible or not I wouldn't touch that loan.
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