Should I Refinance My Student Loans to Lower the Interest Rate? – Jessica

Question: Dear Steve, I have a total of $12,514.34 in school loans between three loans with Navient. Loan 1-03 is subsidized and has a total balance of $2072.68 left with an interest rate of 4.5%. On loan 1-02 (unsubsidized) I have a balance of $5459.83 with an interest rate of 6.8%. My last loan 1-04 … Read more

Student Loan Consolidator No Longer Considers FICO

following a successful pilot program that began in the fall of 2015, leading online lender SoFi announced that it no longer factors FICO scores into its loan qualification process. Instead, the company considers three criteria — employment history, track record of meeting financial obligations and monthly cash flow minus expenses — to determine if an … Read more

I Consolidated My Student Loans But They Left Some Sallie Mae Ones Out

Question: Dear Steve, Hi, a few months ago I consolidated my student loans through a FedLoan servicing company. They consolidated my loans from Sallie Mae, Navient, and Nelnet. I was told by one of their employees after I agreed to consolidate the loans to not contact them any further. A few months passed and my … Read more

How Can I Consolidate All My Private Student Loans

“Dear Steve, I’m looking to consolidate private/government student loans I have a few several outstanding loans with both public and private entities from graduate school (Navient, Nelnet, Discover student loans). is there a way to consolidate these all into one single debt/monthly payment? Peter” Dear Peter, If it was just about government student loans then … Read more

Help Student Loan Default – Review. Are They a Scam?

Company Name Help Student Loan Default / College Education Services Our Impression of What the Company Offers to Consumers I saw an advertisement that claimed people with defaulted student loans could end their default in less than two minutes. That seemed misleading or deceptive since it was not a logically factual statement. It made me … Read more

Student Loan Consolidation Assistance Slippery Slope of Compliance

Recently the site has received a number of great comments about if student loan consolidation assistance services should be regulated or are already regulated under state laws.You can read all the article on this topic, here. When talking about compliance issues for student loan assistance programs the argument seems to come down to one of … Read more

Drowning in Student Loans?

If you can’t make payments on your student loans, don’t panic. Don’t just give up and invite default, either. Default means that your credit will be damaged and your loan balance will increase dramatically with the addition of collection fees. And once you default, the holder of your loan will probably grab a portion of … Read more

Your Searches and Speed Round Answers

I was looking through the recent search phrases on the site this morning and thought I’d take a whack at answering some of them quickly so I’m trying a new approach, the speed round. What happens if you do not answer a debt collectors who is an attorney? If you mean answering the phone, you … Read more

I Can’t Find a Debt Consolidation options for My TERI Student Loans. – Amanda

“Dear Steve, I have the current dilemma regarding my student loans. When I first went to college I had to get a loan as soon as possible in order to stay in the dorms, so without proper research, I ended up applying for a $40, 000 private loan through Teri. A year later once realty … Read more

I’m Drowning in Private Student Loans. – Kathy

Kathy “Dear Steve, I graduated from an affordable college four years ago with $70K in student debt. Because my parents made $200K per year, but were unwilling to help me pay for college, I was ineligible for sufficient Federal aid, even loans. I was forced to finance college through a private lender, which I was … Read more