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Posted: Fri May 05, 2006 9:15 pm Subject: Student Loan Consolidations

My student loans are coming due this summer and I keep getting letters from companies wanting me to consolidate all of my Student Loans with their particular companies for low interest, blah, blah. Can anyone recommend one as being better than another? I know you are supposed to pick the lowest interest rate, but that doesn't necessarily mean the company is any good.

Posted: Fri May 05, 2006 9:23 pm Subject:

Have you contacted them to see who can make the better deal?
I consolidated my student loans through one of my original lenders, SC student loan corp. They are pretty good to work with, and have been understanding when I've had to ask for forbearance or hardship programs.

Posted: Fri May 05, 2006 9:31 pm Subject:

Thanks---I might do that. I know I was able to use a financial hardship when my loans for my BA were coming due, now the MA is done and they are all due (I guess). I had hoped that by the time I was done with the masters I would be in a better financial situation.

Posted: Fri May 05, 2006 9:41 pm Subject:

I know. I think that is probably what happened to many of us here, the ones that are caught up pdl hell. Take out that first loan thinking, well in two weeks I should have the money, or next month. Then something else happens, and something else, until eventually we have borrowed from a few companies to try to keep going. At least that is my theory. Smile

good luck!
Hey, Ari (Jedi Mistress) would be a good person to ask about student loans.

Posted: Fri May 05, 2006 10:07 pm Subject:

I'm here to tell ya--thats not a theory its REALITY. I believe everybody thinks that way about those @#$% PDLS. Ari--what do you know about student loan consolidation companies?

Posted: Sat May 06, 2006 7:33 pm Subject: student loans

Keep in mind that consolidation is a free federal program

Posted: Sat May 06, 2006 7:34 pm Subject:

No fees or charges

Posted: Sat May 06, 2006 7:40 pm Subject:

Whatever company anyone chooses to consolidate with just also know that there is no income or credit check, no fees or charges. This is a free federal program. Taking advantage of it is your free federal RIGHT! There are no employment verifications or requirements either.

Posted: Sat May 06, 2006 7:41 pm Subject:

Whatever company anyone chooses to consolidate with just also know that there is no income or credit check, no fees or charges. This is a free federal program. Taking advantage of it is your free federal RIGHT! There are no employment verifications or requirements either.

Posted: Sat May 06, 2006 7:44 pm Subject:

The consolidation process is able to reduce one's monthly payment up 54%

Posted: Sat May 06, 2006 7:50 pm Subject:

From what I've heard the rates are due to increase July 1, 2006. They are going to increase for some as much as 35%....that's THOUSANDS of $$$$$$$$$$$$$$$$$.

Posted: Sat May 06, 2006 7:56 pm Subject:

I think it makes good sense to consoliadte with William D. Ford also known as Department of Education and also known as Direct Loans. There are a lot of companies that also offer the consolidation program...and not much varies except certain incentives (additional savings) and CUSTOMER SERVICE.

Posted: Sat May 06, 2006 8:14 pm Subject:

Consolidation is a a great idea.There is no income or credit check.No employment verifications or requirements.

Posted: Sat May 06, 2006 9:07 pm Subject:

Just do your research and decide what company you will choose to consolidate with.

Posted: Sat May 06, 2006 9:16 pm Subject:

I have already consolidated $10,000 plus of my old student loans with Dept. of Education BUT I will be consolidating again sometime prior to July 1,2006. I cannot afford to pay thousands more thru loan repayment than I actually have to.

Guest · Posted: Sat May 06, 2006 9:26 pm Subject:

Some companies are even able to give an additional 1.25% rate reduction.

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