How and from where should i consolidate my student loan? and Phone Call with President about Student Loans

How and from where should i consolidate my student loan?

I have student loan subsidized and unsubsidized total of about 20000 with 4.25% interest rate and citiassist (private loan) of 6000 with the same interest rate all from citibank. Can i consolidate my loan with lower and fixed interest rate? Citi doesnt consolidate any more.


loan best answer:

Answer by NotAnyoneYouKnow
***Updated with new information on the listed lenders***

Redrose:

Federal loans and private loans are not eligible to be consolidated in the same loan package.

The best place to consolidate your federal loans is through the US Department of Education's own loan consolidation program. You can find the Federal Direct Consolidation Loan Information Center here: http://www.loanconsolidation.ed.gov/

The government will not consolidate your private loans - so you'll need another lender for that option. Unfortunately, the private loan consolidation marketplace is very limited right now - just like the market for private educational loans themselves.

I can't provide you with a list of even the few remaining lenders that will consolidate private loans right now, but you should check with, in alphabetical, but no other order:

Bank of North Dakota (may not be accepting apps)
Collegiate Funding Services (Chase - accepting apps)
Collegiate Risk Management (accepting apps)
EduCare Financial (accepting apps)
Educational Loan Company (not accepting applications)
Georgia Student Finance Commission (may not accept app)
Navy Federal Credit Union (apparently fed only)
NextStudent (not currently accepting applications)
StudentLoans.com (not currently accepting applications)
Student Loan Financial Group (accepting applications)
US Bank (not currently accepting applications)
VFI (Vista Financial) (unclear if they're accepting apps)
Wachovia Education Finance (seems to be fed only)
Wells Fargo Educational Financial Services (not accepting)

American Collegiate Financial (gone)
American Student Loan Services (fed only)
Anchor Bank (not accepting apps)
One Simple Loan (may not be making consol. loans)
Royal Credit Union (not accepting apps)



Many of those companies may no longer be making student loans of any kind.

Good luck.

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Phone Call with President about Student Loans


Image by MDGovpics
Governor O'Malley takes phone call with president about student loans by Tom Nappi at Governor's Office, State House, Anapolis, Maryland

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