Reviews consolidating large student loans 27
Is this a student loan consolidation scam or legit company to work with? If you’re even asking me, it means you went online, searched the company’s name, or found my article on Student Loan Scams, and it raised a big red flag. There are many scams out there, and the CFPB, along with multiple government agencies, have issued warnings to be on the lookout.
However, there are some good players out there as well.
Just like doing your taxes, it could make sense to do it yourself, or it could make sense to pay a CPA. If you do decide that you don’t want to deal with it and paying someone makes more sense for you, you can see some of our recommendation at the bottom of this article.
Like taxes though, you need to make sure you have the right CPA or you could end up with problems you didn’t have before. For student loan consolidation, read out guide on The Right Way To Do Student Loan Consolidation.
A consolidated loan groups all of your outstanding student loans into one lump-sum loan.
This practice has both its advantages and disadvantages, and some of these pros and cons are explored below.
This is what’s known as a student loan consolidation scam.Deciding whether you want to consolidate your student loans (assuming you have multiple loans and/or lenders) presents many factors to consider.While consolidated loans may simplify repayment, it could also cause you to lose certain benefits you had with other lenders.For an explanation of our Advertising Policy, visit this page.One of the most frustrating questions I get everyday (seriously, everyday), from readers is: Is this company that’s saying they want to help me with my student loan debt a scam?