pi_helix asked:


I thought about consolidating with a different lender…any recommendations? Sallie Mae is no longer offering consolidations. Thanks for your help!

Credit Card Debt Elimination

Mr Steele asked:


Federal student loans are either directly financed by the government or financed by private banks. Those private banks, however, get paid by the government if the student defaults on the loan.

So banks are basically making profits with very little risk.

Obama has said he wants to cut the middle man out and save the government/tax payer millions in dollars in the process. He also said the banking lobbyiest are preparing for war but that he is not going to back down.

Whose side are you on?

Unsecured Credit Card Debt Consolidation

amy asked:


I am trying to consolidate my Federal Student Loans but the consolidation people want a bunch of info about the loans that for some reason I dont have. Is there somewhere that I can get a list of the student loans that I have?? Any help is appreciated!!

Credit Card Debt Debt Consolidation

ZXZX asked:


If one pays off federal student loans with a credit card, and then is delinquent on the card and the creditor charges it off…..

May the card issuer get the IRS to pursue the debt on its behalf as this debt was originally a federal student loan?
OR
Does the fact that they were federal loans not matter since the loans were paid off through the card and the lender of the loans, its gaurantor and the IRS are now OUT of the picture, as it became a regular credit card debt, in which case one would ONLY have to deal with the card issuer (and its collectors) as any other credit card debt?
I know that crad rates are higher and that consolidation of loans is good. I have already done that.
I am NOT interested in all that.

I only want to know what may happen once the card that was used to pay off federal student loans is charged off?
Is it like any other card charge off or not.

Does someone have EXPERIENCE with this?

Student Loan Debt Consolidation

benjn00 asked:


I have a $5000 bill with a state university and must have it paid before I can attend classes. I’ve used my federal student loan eligibility, and have been told that federal student loans cannot be used to remove past bills anyways (nor can student loan consolidators take the debt).

I’m very close to graduating, just an error in judgement on my part caused a semester’s worth of student loans to be rescinded and the bill (with huge interest) has sat at the university for a few months without my knowledge.

So, I’d like to see if a standard debt consolidator would take the bill – and if not, where else I may turn. This is a pretty huge problem for me.

Credit Cards Debt

chrissy asked:


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.

Consolidate Credit Card Debt

golfingjake asked:


I graduated 6 months ago with several federal student loans combining more than 40K. Is it better for me to consolidate now or stay put? Will the fed cutting lending rates (now 3%) affect the interest rates that loan consolidators offer? Will i be offered either variable or fixed rates if i consolidate?

Student Loan Debt Consolidation

sweetdream319 asked:


Hi all. I graduated college last May and will begin repayment on my loans starting in November. I have 7 federal student loans, totaling about $62,000 and 1 private student loan totaling about $8,000. Many places are not offering federal student loan consolidation any more, and I only have one private student loan so it doesn’t make sense to take out a private consolidation loan. As of right now, my payments are going to be about $800 monthly starting in November. I can’t afford that! What can I do?

Consolidating Credit Card Debt