What does it mean to consolidate student loans?
Mar.28, 2009 in
Financial Aid
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March 29th, 2009 at 5:16 pm
You’d have to contact a financial institution like CitiBank. That’s who I used to consolidate mine (I had the same two loans too). Consolidating means they contact Sallie Mae and Stafford in order to make one payment a month. It’s quite decent. But like I said, you need to call a financial institution, but have you graduated yet or received notices to consolidate? If you have, see what their rates are.
March 30th, 2009 at 8:08 am
There are a lot of factors that determine whether or not you qualify to consolidate your student loans.
To determine if consolidation is right for you, visit Mapping Your Future (http://www.mappingyourfuture.org/paying/cnsldte.htm).
Due to recent changes in the Federal Regulations, most lenders are steering away from consolidation. For example, Sallie Mae and NelNet (two of the largest Student Loan Providers) recently announced that they will not consolidate for a borrower who owes less than $30K.
March 30th, 2009 at 7:41 pm
When it comes to the financial aid process, people often ask “Where do I begin?” We’re here to help and guide you throughout this process. This page outlines the steps to applying for a Stafford Loan. Basic Stafford Loan Requirements are, You must have submitted a FAFSA. For subsidized Stafford Loans, you must have financial need as determined by your schoolbe sure to include the school’s FAFSA code (or prospective schools, if you are a high school student) to ensure that the results are sent to your school’s financial aid office.
March 30th, 2009 at 10:02 pm
Maybe you can try below website to get the information you need. It’s about student loan consolidation articles for your second opinion.