I have just paid off $27,000 in credit card debt (yeah!) and I am now ready to take on the student loans. I owe a total of $95,000 in student loan debt to 3 different agencies. I am working at a job in the Middle East (a safe country - Oman) which allows me to pay US$2,500 per month on debt back home in the good ol' USA. According to the
debt calculator, it will take me 44 months to pay back the debt for a total payback of $110,000.
Here's the question - does debt consolidation raise or lower the interest rate?