Loan Consolidation Advice

[desperate4lawschool]

Don't know if any graduates or soon-to-graduate folks still check out this website, but I was wondering if any of you have consolidated your law school loans? If so, can you shed light on the process and/or a reliable/trustworthy company to go through? Thanks

[NotMyRealName09]

Low APR > High APR. Beyond that, way too many factors to give generalized advice. As to reliable - don't worry, someone will always be there to collect your money, and someone will always punish you when you make a late payment, even if your consolidation company goes belly up. You've got a J.D., trust your judgment. Good luck.

And I don't know if this is still true, but the Feds consolidated all my federally backed loans. But I've been getting emails I swear were fake but might not be for a long time telling me I need do something because if not blah blah blah just take my money every month like I told you to and shutup.

[Renzo]

Low APR > High APR. Beyond that, way too many factors to give generalized advice. As to reliable - don't worry, someone will always be there to collect your money, and someone will always punish you when you make a late payment, even if your consolidation company goes belly up. You've got a J.D., trust your judgment. Good luck.

And I don't know if this is still true, but the Feds consolidated all my federally backed loans. But I've been getting emails I swear were fake but might not be for a long time telling me I need do something because if not blah blah blah just take my money every month like I told you to and shutup.

Those emails probably are not fake (but investigate thoroughly before responding, obviously). There is (or was) a "special" loan consolidation program that would consolidate certain qualifying loans and would give you a 0.25% interest rate reduction for doing so. If you had qualifying loans, one of the government-approved special consolidation loan servicers would have been assigned to contact you and encourage you to consolidated. However, it was a limited time program, and I'm not sure if the deadline has passed.

[NotMyRealName09]

Low APR > High APR. Beyond that, way too many factors to give generalized advice. As to reliable - don't worry, someone will always be there to collect your money, and someone will always punish you when you make a late payment, even if your consolidation company goes belly up. You've got a J.D., trust your judgment. Good luck.

And I don't know if this is still true, but the Feds consolidated all my federally backed loans. But I've been getting emails I swear were fake but might not be for a long time telling me I need do something because if not blah blah blah just take my money every month like I told you to and shutup.

Those emails probably are not fake (but investigate thoroughly before responding, obviously). There is (or was) a "special" loan consolidation program that would consolidate certain qualifying loans and would give you a 0.25% interest rate reduction for doing so. If you had qualifying loans, one of the government-approved special consolidation loan servicers would have been assigned to contact you and encourage you to consolidated. However, it was a limited time program, and I'm not sure if the deadline has passed.

I know, I was kidding, I read (skimmed) the emails, the Feds seemed to be trying to privatize their student load debt. I passed.