Question: I have a question regarding consolidation of student loans. I am inquiring for my daughter who graduated from college 2 years ago and is currently living outside of the country. I have been getting lots of mail for her from a company called “Student Loan Conolidation Center” and spoke to the loan coordinator this evening. It seems like a good deal, since the interest rates are at their all time low. I am wondering if this is a legitimate company, and if I am doing the right thing. The last thing I want to do is have my daughter end up paying more interest in the long run because of some minor detail that I neglected to see or because the company took me for a ride! Does anyone have any experience in consolidating school loans, and if so, is this a good company or are there others I should be looking at? My daughter’s 2 loans have been in deferment the last 2 years while she is out of the country. She is planning on coming back sometime later this year. Thank you for your help.

Answer: Two questions to consider…

1) Are all of her loans with one lender or multiple lenders? If they are all with one lender then she has to consolidate with that lender. If with multiple lenders then she can choose from any consolidator.

2) If she already has multiple lenders, my question is would she really want to bring a new player into the process? My suggestion…keep it as simple as possible and work with someone who already has one of her loans. I was also debating between:

Student Loand Consolidation Center Collegiate Funding Services Dept of Education

CFS sounded like it could make my monthly payments smaller than the others w/ their deferred payment program. This is important since I’m getting paid much during residency. Any other advice out there? Pros and Cons? Thx!

Related posts:

  1. Student Loan Consolidation Center, San Diego
  2. student loan consolidation
  3. Nelnet, student loan consolidation – anyone have any experience with this
  4. Private Student Loan Question
  5. What is the best way to handle a defaulted student loan?
  6. A question about a student loan default
  7. due diligence violations in collecting a student loan
  8. Student Loan Lenders..
  9. question
  10. Can my defaulted student loan be bought from the government
  11. Student loan nightmare
  12. Real help for Defaulted Student Loan