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How soon after credit score improves should I apply for student loan consolidation?
I have a large amount of student debt and need to consolidate in order to feel financially secure. I have a good job - just don't make enough money to pay my minimum payments plus all of the other expenses in life. I applied for consolidation in December of 2013 but was denied. That said, I also had about $750 in credit card debt that I just paid off. My credit score was 632 (and Credit Karma’s Credit Simulator says my score will jump to 745 after paying off this debt – is that even reasonable??). Regardless, the score is bound to improve, but I wondered how long after applying for consolidation previously, should I wait to apply again? I will wait for my credit score to improve and I just paid off that credit card so my score will likely not change for another 30 days or so. Would March or April be an okay time to try to reapply or should I wait a full 6 months or so after the original application denial? Or should I go the full six months with using only minimal credit utilization on that credit card and try then?

I have 4 “hard” inquiries listed – two from the consolidation company I tried to consolidate with in December 2013 (I applied twice, once without a cosigner and once with), one from the phone company in August 2013 to set up Internet service and another from a property management company (I just moved at the beginning of this month).

Other than a couple late payments on a credit card I got when I was 18 years old (and stupid), I’ve never had a late bill payment in my life (and my credit reflects that). Even though I can barely afford my student loan payments, they have been paid on time every month.

Also – please note that I attended one of The Art Institutes so my school is often not on the list of approved schools when I consider consolidating w/other companies. The lender I used in December to apply for consolidation (SunTrust) is basically the only choice I have, as far as I can tell.

Any help would be SO appreciated! Thank you!!

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I know a great, reputable student loan consolidation company that has helped many, many students with consolidation.  Not sure if you case applies (must be Federal student loans), but it only takes about 10 minutes and costs nothing to find out if they can help or not.  Call Crest Student Loan Consolidation at 469-619-0644 or visit their website at  Hope this helps!

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