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Debt Relief – Insolvency – Bankruptcy Information » Student Loan Help » Did the recent student loan legislation eliminate cash-back incentives for consolidation?

Did the recent student loan legislation eliminate cash-back incentives for consolidation?

Or does it just seem that way?


  1. What is the Best Student Loan Consolidation and possible incentives to sign up? I have a series of student loans – a few from Direct Loan Servicing Center, Nelnet and Sallie Mae. How...

  2. What company offers the best discount incentives on federal student loan consolidation? ...

  3. What discounts/incentives do you get on your federal student loan consolidation? ...

  4. I am being constantly harrassed by Student Loan Consolidation outfits. What is the ripoff or horror of this? How can a person consolidate their loans clear down cheaper than the federal government originally offers it for? There must...

  5. i have student loans and am unemployed. is there a way i can refinance my student loans and get cash back? i recently lost my job, and the deferment period on my student loan is up. i have heard of consolidating...

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2 Responses to "Did the recent student loan legislation eliminate cash-back incentives for consolidation?"

  1. Sallie Mae says:
    I cannot speak for other lenders, but at Sallie Mae we are working extremely hard to balance the legislative cuts’ significant economic impact on our company with our commitment to serve students, parents and higher education institutions.

    Recently, Sallie Mae announced that student loan consolidation customers who have an initial consolidation loan balance of $10,000 or more disbursed on or after Oct. 1, 2007 are eligible to receive a rate reduction of 0.25% if they make payments using automatic debit. Those who are interested can visit our website or call 1-800-448-3533.

  2. John says:
    Sallie Mae and others, including Wells and Wachovia have reduced or taken away their consolidation benefits. As the loan rates begin to decrease back to the near 3% level in a few years, there wont really be a need for the consolidation loans. There also will be alot fewer lenders in the industry. Check with each lender to confirm. It should be on their websites.

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