What is student loan consolidation? Do you have any student loan consolidation tips or student loan consolidation info that would be helpful for today’s student loans? Share it with me.
Well, I have learned my fair share about student loans recently. I have a son that I sent to college in Phoenix around September of 2007. It wasn’t until then that I figured out how the whole student loan process worked. Believe me– it was a nightmare process sending him to college compared to when I attended college. I didn’t need my parents to help me go to college. Now-a-days kids aren’t treated like adults even at 18 years old when applying for college. The government makes parents hold their hands financially through the whole process. What’s that all about?
Now that my son has dropped out of college, we will be looking for a student loan consolidation. You might ask what is student loan consolidation? It’s the process of combining all the loans received into one big consolidated loan.
I’m also looking for some sites that might have some student loan consolidation comparisons on them, since it is getting close to payback time. Especially with all the eye-catching offers coming in the mail lately that seem to be offering great rates. I’m starting to wonder if consolidating is my best option? What would you consider the best route possible for student loan consolidation?
Are there any student loan consolidation rules I should be aware of? How about any student loan consolidation loans at great interest rates? I hear there are even student loan consolidation rebates.
If anyone has any ideas on any of this, I would appreciate hearing your insight on the issue.
24. July 2008 at 9:27 am
My son has deferred his loan payments on his consolidated student loan through the federal government’s program for a couple years. The accumulating interest is unbelievable, and I am afraid one day the loan will be so much that it will haunt him the rest of his life. I believe the interest has already caused the loan to triple. We initially thought it would be better to consolidate through the government rather than a bank, but I am thinking this may not have been the best option. I know of a successful attorney who is even having problems paying off his student loan. This is a very big concern for many, many people. I am looking forward to more articles on this subject on your website.
25. July 2008 at 12:40 pm
I can’t believe the interest on student loans either. Unfortunately, on any loan your going to have interest, but through the government you know its usually the least expensive loan out there. Salliemae was great with us, especially if you had a financial hardship they would defer the payment and work with you no problem. They wouldn’t add late fees or anything.