Student Loan Consolidation??
830600
Hello Carrie,\n\nMy name is Jason Fry, and i am a student Loan advisor with Student Aid Lending..\n\nWe are a title IV lender administered by the department of education...\n\nMy company does both consolidation loans, as well as new loans for students (and parents)\n\nAll lenders that are licensed with the Deparment of Education have the same programs, rates, and options... Everything is regulated by the government so there is no difference technically in which lender you work with..\n\nThe only differences you can find from one student loan lender to the next is the type of rate discounts offered..\n\nThe department of education offers 3 rate discount options... Each individual lender determines if they will offer the rate discounts or not..\n\nMy company honors all discounts offered by the government...\n\nThis includes:\n\n*** .60% rate reduction for consolidation prior to graduation..\n\n*** .25% rate reduction for automatic debit\n\n*** 1% reduction for 36 months of ontime payments..\n\nMost other lenders out there will only offer 1 or 2 of the three.. Again, we honor all of them..\n\nIf you would like mor information about my company, please visit my yahoo 360 profile..\n\nhttp://360.yahoo.com/my_profile-HlUDUhMib7M9Wlj6o6L2SfGcEYtkt9xsaQ--?cq=1\n\nFrom there you can find the direct link to our website as well..\n\nDont hesitate to call or email me at anytime and i can walk you through the entire process!!\n\nGood Luck, i hope this helps!\n\nJason Fry\nStudent Aid Lending\n1-800-964-0642 Ext. 114\njasonf@studentaidlending.com
582788
I, too am in a similar situation, except I'm in more debt and little older. Instead of bankruptcy, I consolidated my school loans and also applied for financial hardship or income sensitive...whichever one is used for those not making much $$ and i contacted a credit consolidation company. The consolidation company will take over all of your outstanding bills and those in collection aside from things like car and house and school loand payments.\n\nMy hospital, credit, and other similar bills are lumped into a once a month payment under $500 and will pay everything off in 4 or less years...no penalties for paying off sooner.\n\nI think going this route will show that you are taking responsibilty for whatever fianancial problems you may have and should hopefully get back to having good credit. Also, for my credit card, the consolidation company is communicating with the companies for me and will do what they can to have interest rates reduced as well as late payment fees and etc....\n\nfeel free to contact me in regards to all this if you like....
736317
You got a consolidated loan setup to lower interest on multiple loans you had trouble paying. That's your fault. Keep on the plan you have now or declare bankruptcy.
679324
I myself have quite a few student loans through a private college.  Our financial aid department did most of our loans through Citibank, which offers a consolidation of your loans w/ minimal monthly payments that I'm paying now (about $5 a month for every $2,000).  Most banks want to take your debt and consolidate it (it's how they make their money), so I'd shop around or ask your financial aid department for suggestions of banks that will work in your favor.  Also, try looking into the bank your checking or savings account is at, they usually offer discounts to customers.  Hope this helped a little.
796301
Hello there,\n\nYou still do have many options, but i would need to know more information in order to accurately give you a suggestion..\n\nYour in a situation that alot of students find themselves in these days with such high tuition rates..\n\nWhat i would have to do is take a closer look at your situation and then advise you from there..\n\nI work with Student Aid Lending, we are a nationwide title IV lender administered by the Department of Education... I would be happy to assist with your federal student loans... \n\nTake a look at my yahoo 360 profile.. There is alot of helpful information there for anyone to view.. You can also find the direct link to my website..\n\nhttp://360.yahoo.com/my_profile-hluduhmi...\n\nIt is actually a VERY SIMPLE process, it can be completed in 10 minutes over the phone and internet...\n\nFeel free to call or email me at any time.. Im available at all times to answer any questions or concerns you may have..\n\nI hope this helps!\n\nJason Fry\nStudent Aid Lending\n1-800-964-0642 ext 114\njasonf@StudentAidLending.com
498170
contact edu.org.  there are student loan sites, start to consolidate, or refinance with another company, quickly!  also, not sure who you have your loan through, but most of them have a forebearance method.\n\nhttp://www.dlservicer.ed.gov/\n\ntry this site, was helpful for my husband.\n\nNo, You cannot file bankruptcy on student loan.  it is a federal government loan.
769212
My grandson just did that, although we do not have a citi bank in our community, He called them and had all of his loans consolidated.And locked them in at a low interest. Then he had to defer them, work wasn't too good, not many hours.Citibank I understand is really good with students. Won't hurt to contact them. Good Luck.
1001960
Student loans are backed by the Federal Government. So, whatever 'they' get for consolidating comes directly from the federal government. Although, I'm not sure what they acutally do get in return. Probably the monies - which is just like a regular loan - only it comes from the fed.\n\nWhen I consolidated mine they loans were at 4% and 4.5% and my lock in rate was 5%. Which sucked. But, its better than what you would get in the futre. Those rate you have will automatically go up in July so you can either do it now at around 5-6% or have the government jump it up to 8% in July...\n\nALSO, since you are still in college you will lose the ability to consolidate your loans until you finish. So, if the rate goes up to 10% your SOL.\n\nTake the opportunity now...\n\nWith the way this president runs the country...he'll probably have student loans at 20% in the next 5 years.
1134957
You should consolidate now, you are allowed to consolidate if you are in-school.\n\nCurrently if you are in-school your stafford loan rate is 4.7%, consolidation would put you at 4.75%, if you are in repayment your current rate is 5.3% and you would consolidate at 5.375%.\n\nJuly 1st interest rates will increase to 6.54% if you are in-school and 7.514% if you are in repayment.  It will definitely pay to consolidate right now because of the amount of dollars you will save in interest over your repayment.  (Consolidating will extend repayment out over a longer period of time than what you are currently scheduled to repay, so the lender recoups some of the interest that way.)\n\nFind out who you have loans with at www.nslds.ed.gov under the Financial Aid Review tab.  This will tell you more info than you probably ever wanted to know about your loans in one place. (You will need your Dept of Ed PIN to access this information, to have your PIN emailed to you request a duplicate at www.pin.ed.gov)\n\nIt is up to you to choose who to consolidate with.  Emergency legislation passed earlier this month revoked what was called the Single Holder Rule so you can choose to go with any lender you would like.  It is good to find out if you get to keep your grace period, do you get an interest rate or principle reductions for making on-time payments or electronic payments to your account.\n\nThis application must be completed by midnight on June 30th, so act quickly.
876224
I'm doing this right now. It's best if you have or can get a low interest rate loan and pay off balances all in one spot. Debt consolidation companies ARE NOT necessarily the best way to go. Some creditors will not work with these companies. Also, it can reflect negatively on your credit report. \n\nI recently transferred two of my three credit card balances to one loan, then cut up the cards. Now, I'm making two payments instead of four, and it had helped a lot.\n\nI'd say talk to several credit counselors for ideas. Read a lot of websites. There are plenty out there. \n\nGood luck to you!
715124
Some employers will pay a portion or all of student loans as a type of hiring bonus, but in practice this is very rare.\n\nIf you didn't get a scholarship coming in to avoid taking the loan in the first place, chances are you're stuck with the loan.\n\nHowever, the best way to minimize the cost of the loan is to consolidate your school and student loans into one loan. See here for details:http://consolidateloannow.com.\n\nConsolidating is a huge benefit. It will reduce your interest and your monthly payments dramatically, and it's way less of a headache than juggling all those different loans and payments.\n\nAlso, student loan interest can be tax deductible after you consolidate.  Furthermore, if you sign up for automatic electronic payment when you consolidate your loan, you can reduce you interest rate considerably, shaving up to 15-20% off the monthly payment.\n\nhttp://consolidateloannow.com/archives/6  \n\nThe details are given there, basically any school loan consolidator listed on that site will offer competitive rates, but you should shop around.
1101384
When you consolidate a student loan you no longer qualify for the Teacher Loan forgiveness or Nursing Loan forgiveness programs. So yes this a drawback.  It would be a good idea to calculate your interest savings of consolidation for the 5 years you are required to work & pay on your loan to qualify for the program versus taking what portion of your loans that will be left at that time that will qualify for the loan forgiveness.\n\nIf you choose to consolidate:\nThe consolidation of loans allows you to lock the current interest rate in, otherwise the rate will continue to fluctuate as the economy does. Rates are set to rise on July1 to 6.54% for Stafford Loans if you are currently in school/grace period and to 7.14% for those of you in repayment. Right now rates are at 4.7% for in-school/grace and 5.3% for repayment. Consolidation will round your interest to the nearest 1/8 percent so in-school/grace consolidated rate will be 4.75% and repayment rate will be 5.375% (this is for loans borrowed after 1996, rates are slightly higher on loans borrowed prior to fall of 1996).\n\nRepayment will also allow you to extend your repayment out longer than 10 years, lowering your monthly payment. Because of the large jump in interest rates it is highly recommend that students consolidate their loans by the end of the day today.\n\nThe Perkins loan may also be consolidated, it has a fixed (or locked-in) interest rate of 5%. So many students will opt to leave that loan out of the consolidation if the are still in-school so their interest rate isn't made higher in the weighted average of loans and their interest rates during the consolidation process. You can run examples using loan consolidation calculators at www.finaid.org.\n\nTo find a listing of all your loans you can use the National Student Loan Database www.nslds.ed.gov.  You will need to know your Dept of Ed PIN to access this info.  To retrieve your PIN you can request a duplicate be emailed to you within 4 hours at www.pin.ed.gov\n\nYou do have the choice of choosing another lender to consolidate with and their are many to choose from. And it is typically easiest to go with your current lender.  \n\nMany people on this site are recommending Direct loans.  They are reputiable but many other are as well.  To consolidate with Direct Loans you can call their phone number 1-800-557-7392 or complete an application on their website www.loanconsolidation.ed.gov. To consolidate at the website you will need your Dept of Education PIN and the amounts borrowed for each loan (and whether they are subsidized or unsubsidized). The PIN can be emailed within 4 hours so if you request it now you can still get your application completed (www.pin.ed.gov).\n\nRemember you only have until midnight on June 30, 2006 to complete the application if you select to consolidate your loans
1036265
You want to investigate www.daveramsey.com and get Dave Ramsey's books from the library. Debt consolidation is NOT the answer. Not trying to be preachy here but the answer is the debt snowball and careful budgeting. I know it sounds insane but it works. Get his book from the library and give it a try.
338863
Well, the debt isn't going away, but there are things you can do to lower your monthy payment (which I assume is your immediate concern) -- consider private loan consolidation.\n\nwww.finaid.org (a great resource) offers a list of private loan consolidators, as well as some sound advice. Here is their list: http://www.finaid.org/loans/privateconsolidation.phtml.  {Note: Sallie Mae recently came out with w private loan consolidation product}\n\nNot to push a certain company, BUT, of the companies listed above, you might look first at Sallie Mae, Key Bank, Wells Fargo, and NelNet, as they are established education loan lenders. Some lenders on www.finaid.org's list may no longer offer private consolidation; others may require at least some of your loans to have been borrowed through them to begin with. Key Bank's program does not require that you have loans with them in order to consolidate with them now.\n\nNote: By consolidating your private loans, you should expect to see a slight increase in your interest rate (and obviously, your overall accrued interest); it is up to you to decide whether this increase is outweighed by the benefit of a lower monthly payment (if it helps you pay your other bills and preserves a good credit rating, the answer may be a resounding "yes"). Take advantage of any benefits that the company has to offer: consider having your payments automatically deducted from your checking/savings account each month -- it can often save you .25% off your interest rate.
123994
Loan consolidation is the KEY! But to do this I'd first research some of these credit-repair companies with a nationally certified rating service. Pick a well rated company and get busy. Also if you own any security instruments you can sell them for quick cash.
243889
Did you do the FAFSA form.  I am kind of in the same boat.  I didn't go to school and I worked instead.  Now my FAFSA info will be based on my income of 20,000 even though if i go to school full-time I won't be making any money.  We should keep in touch and encourage each other.  I hate feeling like I have an "impossibbility complex" over something as simple as going to school.  If you can work out something to get through your first year, you will be eligible next year.  Take student loans, it should be worth it.  If you click my name, there is a link on my profile to send me an email.  Feel free!
369619
You can refinance your student loans but only to get a better interest rate and or consolidate multiple loans into one loan. There is no equity so you can not pull money out. However if you are still in school, and are receiving loans, usually all of your loans are in deferment until six months after graduation, unless otherwise stated by your schools financial officer. If you have finished a degree, you can go back and enroll and complete 6 units or halftime and all of the loans that are defer-able will go back into deferment. Double check with your loan company. Also if you are married don't consolidate or refinance with your spouses loans, because if anything bad should happen(God-Forbid It) but divorce, or even death you will still be responsible for your spouses loans.  Hope this helps....If I can help you with more info just let me know. Take care