Question by Sarah: Student Loans – what happens when they are sold to another company?
I’m looking for a consolidation loan. There are so many companies out there. I heard that some of the companies with great promotional interest rate discounts (e.g. for on-time payments, enroling in auto debit etc.) turn around and sell your loan to another company. When this happens, do the terms have to remain the same as the original consolidated loan (ie interest rate, payment schedule etc.)? I’m hearing mixed things about this. I contacted the Federal Student Loan information center and was told conflicting things as well.

Best answer:

Answer by Joseph H
When your student loan is sold, it can result in a change of servicers. (Student loans are most often sold to a secondary market when they enter repayment. They can also be sold to another bank at any time due to bank mergers or banks choosing to liquidate their student loan portfolios.) Although the original terms of your loans will not change, the address to which you send payments and the date on which payments are due may change. It is therefore important to read all the correspondence you receive carefully. It is also important to ensure that the servicer has your current address and contact information. Students who ignore their mail and phone calls are more likely to be delinquent on a payment and to default on their loans.

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Question by mama barney: Does anyone know of a student loan company that does spousal consolidation?
We know the downside of – if one of us dies the other is responsible for the loan – but we both have such high interest rates and would love to consolidate before they go up again. We are trying to simplify our finances and reap the benefits of smaller payments…

Best answer:

Answer by dreamscorporation
debt consolidation

if someone wants to get out of debt today it is pretty easy with a debt consolidation plan
however it may get a bit tricky at times, I suggest you get as much information as possible online on this first,

a good place to start in my humble opinion is:

http://umgarticles.atspace.com/debt-consolidation.htm

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Question by KeraniBai: What is the best student loan consolidation company?
Recently, I consolidated my student loans (undergrad, grad school loans). After I received the final break down, it appears that I will be paying double over the 25 year pay back period even with a 6% interest rate. This is ludicrous and certainly NOT what the agreement stated. I need to find a better company with better rates and soon.

Any suggestions – help!!! This company is really not the best and I plan to change soon. Send links and your advice on how they have helped you!

Best answer:

Answer by MondoBizzaro
I use “American Educational Services”

http://www.aessuccess.org/index.html

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Question by jrmylarson: What student loan consolidation company has the lowest interest rates?

Best answer:

Answer by Prima
Different loans carry different interest rates. Some are fixed, some are variable. While it’s possible to consolidate fixed–and variable-rate loans to a fixed rate.

http://low-intereststudentloan-consolidation.blogspot.com/

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