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Loan Consolidation FAQsWhat is loan consolidation? Consolidation allows students to combine different types of federal student loans to simplify their payments. After consolidation, the borrower will have a new repayment term, monthly payment, and interest rate. I have both subsidized and unsubsidized loans. Can I consolidate them? Yes. Consolidation loans can include both subsidized and unsubsidized loans. The borrowers may retain interest subsidy benefits for any subsidized Stafford loans that are combined with any unsubsidized Stafford loans. If you have a Federal Perkins loan, however, the borrower will lose the interest subsidy if they take part in a new consolidation loan. What happens if I consolidate my loans during my grace period? If you decide to consolidate your student loans during your 6-month grace period, you will lose any remaining portion of it. When you consolidate, you are required to start making payments within 60 days of the consolidation loan disbursement.  In a statistical study, consumer debt in the United States is estimated to be over 2 Trillion dollars. Credit card debt from consumers actually takes up over 700 billion dollars of the consumer debt in the United States.
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Two defendants have agreed to settle Federal Trade Commission charges for allegedly victimizing Spanish-speaking consumers nationwide by posing as debt collectors seeking
Two debt reduction companies and their principals have agreed to settle Federal Trade Commission charges alleging that they violated federal law by falsely claiming
A federal court has entered a final order against a Florida debt collection agency, its principals, and its attorney |
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