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MY DAUGHTER WANTS TO CONSIDATE HER COLLEGE LOANS AND RECIEVE A REBATE. ANY POSITIVE EXPERIENCES WITH THIS?

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May be this site can help you

http://www.thetechnology.net
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What does a Rebate have anything to do with consolidating student loans? If the bank is indicating they will "give" her money for consolidation, this is a tactic to get her business and her money. Consolidation is something that should only be done after CARE FULL consideration because it NEVER and I say NEVER saves you money in the long run.

They only offer it because it makes them money....lots of it.... for the 30 or so years she'll be paying on this loan.
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Consolidating students loans has both pros and cons to the decision.  Pro...consolidating loans will allow you to make one payment to one lender vs. payments to multiple lenders each month, she will have a fixed interest rate, and it probably will lower the amount she will pay each month.  Con...it will extend the life of the loan to where she will be paying more (in some cases a lot more) in interest.

Many lenders offer some type of incentive to get you to consolidate your loans with them.  For example, if you pay your bill through automatic debit you may get a .5% reduction on the interest.  Before consoidating, she may want to check around with other lenders to make sure she is getting the best deal.
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