Process of consolidating student loans

Many companies in the business of helping students and parents through the student loan process are legitimate.They work hard to find the best options for their clients in securing and then repaying their federal student loans.Begin by logging in to your account at using your four-digit federal Personal Identification Number (PIN). The application will be populated with information from your loan record.If you don’t remember your PIN, you can get it here: gov. You will be asked to review and select loans for consolidation.Despite the best efforts of regulatory commissions and other agencies though, there are disreputable companies and out-right scam artists operating in the student loan consolidation industry.In July, the Illinois State Attorney General filed suit against two organization called First American Tax Defense of Chicago and Broadsword Student Advantage of Frisco, Texas.Common sense dictates that managing one student loan as opposed to two or even more is logistically simpler and psychologically less burdensome as well.For busy professionals, remembering to make one larger payment a month rather than several smaller payments is much less of a hassle, meaning there’s less of a chance for missed payments, unnecessary compounding interest, and late fees.

Madigan accused the companies of charging consumers hundreds of dollars in upfront fees in order to reduce or eliminate their student loan debt, but the service was never provided.You may choose Fed Loan Servicing (PHEAA), Great Lakes Educational Loan Services, Inc., Nelnet, or Sallie Mae. If you planning to benefit from Public Service Loan Forgiveness, bear in mind that when you file an Employment Certification Form, your loans will be transferred to Fed Loan Servicing, the "official" Public Service Loan Forgiveness servicer. There are lots of choices and it makes sense to evaluate each plan before you select the best plan for your circumstances.I'd probably go ahead and choose them to begin with. Information to help you understand your repayment plan options is at Check that your application is correct and complete, make any edits you might need, then electronically sign and submit your Federal Direct Consolidation Loan Application and Promissory Note.Assuming that you’re currently trying to manage more than one student loan payment a month, you already know how overwhelming it can be.How many times have you procrastinated on paying your student loan notes simply because the mere thought of sitting down to make all those payments causes anxiety?

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