Comments on: Student Loan Consolidation Can Never Hurt You http://www.moneycrashers.com/student-loan-consolidation-can-never-hurt-you/ Personal Finance Blog, Your Guide to Financial Fitness Fri, 10 Feb 2012 01:50:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: SURESHhttp://www.moneycrashers.com/student-loan-consolidation-can-never-hurt-you/#comment-15445 SURESH Fri, 08 Oct 2010 17:12:38 +0000 http://moneycrashers.com/?p=176#comment-15445 Word of Caution: When I was 25 yrs old and out of grad school, I was advised to consolidate my student loans for the same reasons mentioned in this blog. So I consolidated them (to my dismay) with a private loan servicer at a very low interest rate. I later got a job in local government. My student loans would have been forgiven or at least partially forgiven had they kept their Federal Loan status. However since they were consolidated to a private servicer, I'm stuck paying off thousands of dollars more than I would have been had I not consolidated. So what I'm saying is proceed with caution. Yes it is a good idea to consolidate for the reasons mentioned in this piece, but by all means try to consolidate with the Federal Loan people so that it doesn't lose it's Federal status. Word of Caution: When I was 25 yrs old and out of grad school, I was advised to consolidate my student loans for the same reasons mentioned in this blog. So I consolidated them (to my dismay) with a private loan servicer at a very low interest rate. I later got a job in local government. My student loans would have been forgiven or at least partially forgiven had they kept their Federal Loan status. However since they were consolidated to a private servicer, I’m stuck paying off thousands of dollars more than I would have been had I not consolidated.

So what I’m saying is proceed with caution. Yes it is a good idea to consolidate for the reasons mentioned in this piece, but by all means try to consolidate with the Federal Loan people so that it doesn’t lose it’s Federal status.

]]> By: Financial Aid Officerhttp://www.moneycrashers.com/student-loan-consolidation-can-never-hurt-you/#comment-3125 Financial Aid Officer Thu, 16 Nov 2006 18:22:43 +0000 http://moneycrashers.com/?p=176#comment-3125 Great info - I have been meaning to consolidate my student loans and I will check out that site! Great info – I have been meaning to consolidate my student loans and I will check out that site!

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