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All the companies I have checked out are not offering consolidation loans because of the credit market. There is no way I can make payments with out consolidation. Someone please help!

student consolidation
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  1. Hi, I’m looking at consolidation loans that offer cash rebates. Right now I’m looking at $1,100 rebates on my student loans with MOHELA. However, I was hoping to pay off a $4500 credit card bill with either a rebate or by borrowing more than I owe. Are there any companies that allow you to borrow more than you owe (l did this to pay rent as an undergrad) or include CC debt in a consolidation loan? Thanks!
  2. My father accidentally did what is called a “double consolidation” on his student loans. Now he has two companies asking for repayment on the same loan. We’ve contacted both companies and they both say that we should repay the first company and it will cancel out the second consolidation. We did that but my father is still getting bills from the second company. I’m not sure if we should just ignore them or should we contact both companies again and see what is going on. Does anybody have any advice on what we should do?
  3. Does anybody know how many times you can consolidate private student loans? Right now I have approx $26K in student loans consolidated with Sallie Mae at about 10% interest rate. I would like to get a better one, but have already consolidated. If I can only do it once, do loan companies actually lower the rate based on credit and payment history?
  4. I am due to start paying lmy federal student loans back in September. How do I even begin the consolidation process, or possibly deferrment of my loan payments for another six months. Any help would be great.
  5. I have to start paying back my student loans soon. I realized that the payments are going to be OUTRAGEOUS. I was wondering if anyone knew of any good consolidation companies? Or any ideas for lowering a monthly payment?

2 comments

1 NotAnyoneYouKnow { 03.09.09 at 1:53 am }

Redd:

If you’d asked this question two years ago, I could have given you a list of about 20-25 major lenders who offered student loan consolidation. Right now, you’d be lucky to find 5.

Four companies that I know are offering private loan consolidation products right now are:

Chase
Collegiate Risk Management
EduCare Financial
Student Loan Financial Group

I can warn you that all four of these lenders will subject your consolidation application to a rigorous and conservative analysis of your eventual ability to repay.

If your loans ARE federal loans, you should start with the government’s own consolidation program – you can find that here:

Good luck.

2 Matthew B { 03.09.09 at 2:52 am }

I can help you, I work for a debt settlement company, send me an email at and we can discuss your situation. No gimmicks, just trying to help.

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