How To Finance A College Education: Re: College Loans

» JenL_2 - Re: College Loans

the article above says....

But you can only consolidate once. And if rates subsequently move even lower, you’ll regret that you did the consolidation now.

Not True! Although the article is talking about consolidating the Stafford Loan (student loan) that is deferred until post-graducation - you can consolidate both the Stafford and the Plus Loan (parent loan) more than once. And you can even consolidate the Stafford Loans now to lock in the current low interest rates but maintain deferrment of payment till after graduation - it just takes a little extra paperwork.

This is all very confusing and you get several calls and mailings from different loan consolidation groups as the time nears for possible consolidation. Well today I got a call from a rep from a loan consolidation group that really helped make sense of the whole confusing mess......so want to pass the contact info on .....just incase anyone else needs help with consolidating Plus & Stafford Loans:

Merridith Skelly
1-888-829-3880 option 3 - ext 3928
Academic Management Services (AMS)
http://www.tuitionpay.com

The previous college loan consolidation group that had contacted us had said that they could only consolidate the Plus loans, not the Stafford loans. So this is good news! Now am thinking of consolidating my oldest daughter's Stafford Loans, but maintaining her deferrment, as well as consolidating all the Plus Loans for both daughters - to lock in the current low interest rates.

I'm going to send a link to this discussion thread to Ms Skelly so if anyone has questions on college loan consolidation - go ahead and ask here and maybe she'll reply! ......Jen

-- posted by JenL_2