Also, Do debt consolidation companies include federal educational loans into the consolidation? If you have a federal student loan, and the loan company offered a 1800 # for a consolidation company to take the loan and pay it?
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- 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!
- 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?
- it seems like there aren’t any lenders that do federal student loan consolidation programs. Are there any out there? not private loans.so far it seems like the dept of ed has ended other programs. please help thanks Ruth. Can you ask your relative if it was a federal loan? New question, is it possible to debt consolidate federal student loans?? so there’s debt and then student loan consolidation.
- Is it possible to consolidate both federal and private student loans into one consolidation, or do I have to?
- I just graduated and I am trying to consolidate my student loans. Right now, they are with two different comapanies which offered me a 7.14% and 7.25% interest rate respectively. I called another company who had sent me literature, and they offered a 6.125% rate for the first 36 on time payments, then it will drop to 5.875% after that. I thought this was a good deal, but people keep telling me that it is an awfully high interest rate on a student loan. Does anyone know if a lower one can be found anywhere, and if so with what company? Is this about the best deal I will be able to get?
2 comments
Your chances are prob pretty good to consolidate federal student loans. Don’t consolidate federal student loans in any non-student loan consolidation loans, your interest rate will likely be higher and the interest you pay would no longer be tax deduct able.
i think anyone can consolidate their federal loans THROUGH the federal loan company (direct loans). the government works with students to allow them to pay what they can if you are having problems paying your loans off. i would not have another company pay off your federal loans and consolidate through them. your interest rates will end up WAY higher. call direct loans and ask someone what your options are there. that would be your best choice.
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