Should I consolidate?
Are these federal loans?? If so, consolidate them ASAP with the
Are these federal loans?? If so, consolidate them ASAP with the Direct Loan Consolidation program under the ICR or IBR repayment plans. You are still going to end up with the interest capitalization but your loan at least will be current.
Quote:def consolidate... if u dont want to deal with the hassle
Quote:
def consolidate... if u dont want to deal with the hassle of doin all the paperwork and what not, hire a company to do it for u... i did, and im in a better state... def dont let it keep accruing interest... |
Monkeyman...I dont know what you are trying to sell, but you dont know SQUAT about student loans. Student loans continue to accrue interest until the last penny is paid. Hiring a company to do it for you is not only a waste of time, but money. Consolidating is fairly simple and you sure as hell dont want to be paying a third party to print an application for you.
In other posts which I have deleted, you indicated is cheaper to consolidate than to rehab....it most definately is NOT.
how would u know if consolidation is cheaper than rehab if u don
how would u know if consolidation is cheaper than rehab if u dont even know what a consolidation costs? although u can consolidate for free, which obviously makes it cheaper to consolidate than rehab, it can be overwhelming for some people, like it was for myself, and it would make it easier to just hire a company... like doin taxes, u can do it for free, but y not just hire h & r block to get u the best return, rather than try it urself, and mess something up and not get ur highest return... also, some CA dont allow consolidations without appealing the garnishment, which is also another difficult process that if u fail it, u have to wait 6 months before u can file another one... also, there are forgiveness plans out there for people in certain positions, and the loan payoff cap is 25 years anyway... i can guarantee that i know A LOT more about loan consolidations and rehabs than you know, as is apparent from your response to my post.... dont be prideful, i know it hurts when someone knows more than you about a subject, especially when ur an "expert" on that subject...
Quote:how would u know if consolidation is cheaper than rehab if
Quote:
how would u know if consolidation is cheaper than rehab if u dont even know what a consolidation costs? although u can consolidate for free, which obviously makes it cheaper to consolidate than rehab, it can be overwhelming for some people, like it was for myself, and it would make it easier to just hire a company... like doin taxes, u can do it for free, but y not just hire h & r block to get u the best return, rather than try it urself, and mess something up and not get ur highest return... |
What are you...18 years old??? Text talk does not belong in any forum.
How do I know that rehab is cheaper than consolidation? Because it is. If you rehab a defaulted Direct Loan, when you successfully complete a rehab, your collection costs are waived. That is a 18.5% savings
I have over 20 years experience in student loans and defaults. Filing out a Direct Loan consolidation application is NOT rocket science. All it requires is pulling up your NSLDS and transferring the numbers and lenders and filling in your personal information.
As for tax filing, a basic return is not rocket science either. I let my 14 year old daughter do mine this year using an online program. She got it right on the first shot. Can't help that you buy into the H&R ripoff TV commercials and waste your money paying for someone else to do it.
Quote:
also, some CA dont allow consolidations without appealing the garnishment, which is also another difficult process that if u fail it, u have to wait 6 months before u can file another one... also, there are forgiveness plans out there for people in certain positions, and the loan payoff cap is 25 years anyway... |
Again wrong. It is NOT the CA that does not allow consolidation if you are being garnished but FEDERAL LAW!! Have you read the Higher Eduation Act?? If you follow the instructions and can prove hardship, the garnishment will be lifted or removed. How do I know?? I administered garnishments for the DOE for two years!!!! Having a third party write you a letter is simply telling the garnishing company that you have too much money to throw around!!
Lets face it...you were garnished because you failed to respond to the initial wage garnishment notice and request an appeal. You were garnished because you were not paying your loan. If you are so knowledgeable, why did you not consolidate BEFORE it got to the garnishment stage?
Quote:
i can guarantee that i know A LOT more about loan consolidations and rehabs than you know, as is apparent from your response to my post.... dont be prideful, i know it hurts when someone knows more than you about a subject, especially when ur an "expert" on that subject... |
Laughing my ass off while rolling on the floor. You have already PROVED you know squat...the simple act of having to hire an outside company shows your incompetence and lack of knowledge of the student loan industry. I was talking people thru consolidation applications while your mommy was changing your diapers.
I have deleted Monkeyman's post since he finally revealed that h
I have deleted Monkeyman's post since he finally revealed that he works for one of the companies that overcharge for a basic student loan consolidation company. He is a troll looking for business and quite frankly the type of garbage company he works for is dangerous.
Quote:
I'll admit, I work for one of those third party companies, and I am trying to make sure that EVERYONE knows of this program so they're not falling victim to CA and fools like yourself... |
If anyone ever has a problem with a CA or federal student loan guarantor, they can contact the student loan ombudsman free of charge. You do NOT need to be throwing money to trolls
Idiot doesn't know the difference between a blog and a forum.