If you're faced with a lot of student loan debt after graduation or are expecting to graduate with enormous student loan debt, student loan consolidation may be a way for you to transform your debt into one new repayment package with a lower interest rate and lower monthly payments. Sounds like a great debt management option doesn't it? It can be.
However, it's important that college students (or graduates) are careful of who they decide to consolidate their student loans with. For example, consolidating student loans through the Department of Education or using a student loan company that is a member of the Federal Family Education Loan Program (FFELP), such as OneSimpleLoan, offer a student a reputation that they can trust. When it comes to customer service, it is thought that student loan consolidators that are members of FFELP can provide superior customer service since it is those companies' choice to consolidate loans for students. Because it is a choice and a livelihood of business, student loan companies that are part of FFELP, and like OneSimpleLoan, offer student loan consolidation tend to invest more time in the quality of their student loan consultants in an effort to provide optimal service and information for students.
It is also important for students to work with a student loan consolidation company that remains up-to-speed on current student loan regulations. This ensures that the students get accurate answers to their questions and know of implications that could affect their financial situation.
Work with a student loan consolidation company that has your best interests at heart. For example, the certified Student Loan Consultants at OneSimpleLoan are up front and personal and will tell students when and if student loan consolidation would be ideal for their particular situation.
So, when it comes to consolidating your student loans (or the thought of it), do a lot of research, consider a reputable FFELP member and turn to a company that offers superior customer service.
