How much can you save? A $20,000, 10-year loan now costs $221.94 a month. With all the breaks and a 30-year term, you can cut payments to $76. You can also pay it off early without penalty.
To get a consolidation loan, ask your current lender. Also check out Sallie Mae (salliemae.com), Collegiate Funding Service (cfsloans.com) or major banks. Cheap money’s a nice graduation gift.
