Articles Comments

Debt Relief – Insolvency – Bankruptcy Information » Student Loan Help » Student loan consolidation general question?

Student loan consolidation general question?

Hi, I’m looking at consolidation loans that offer cash rebates. Right now I’m looking at $1,100 rebates on my student loans with MOHELA. However, I was hoping to pay off a $4500 credit card bill with either a rebate or by borrowing more than I owe. Are there any companies that allow you to borrow more than you owe (l did this to pay rent as an undergrad) or include CC debt in a consolidation loan? Thanks!

RELATED POSTS:

  1. Student loan consolidation question? I heatd from someone that student loan consolidation is filing some type od bankrupcy and that if I have all...

  2. Student Loan Consolidation question:-College Cost Reduction & Access Act of 2007? What, if any, impact does this have on recent graduates with existing student loans in terms of consolidation? I have...

  3. Does anyone know of a company offering student loan consolidation loans? All the companies I have checked out are not offering consolidation loans because of the credit market. There is no...

  4. Will my student loan consolidation loan affect my mortgage pre-approval? I am in the process of consolidating my student loans but I am going to graduate school this summer so...

  5. Private student loan consolidation? My husband and I have a sizable amount of student loans (almost $100,000 combined) that are in private loans through...

Written by

Filed under: Student Loan Help · Tags: , , , ,

3 Responses to "Student loan consolidation general question?"

  1. Student Loans says:
    When it comes to Consolidating your Federal Student Loans through the FFELP Consolidation Loan Program you will only be allowed to obtain funds for the amount that your loans are for.

    Once you have a FFELP Consolidation Loan in process the company that you decide to consolidate with requests your amounts of your loans from your current Lenders, once those funds are released the amounts the checks are written for are your current loan amounts and are paid to your current Lender(s) to payoff your loans and create a new Consolidation Loan.

    If you are considering combining your Credit Card debt with your Federal Student Loan debt I would advise against that for two reasons. One reason is you are unable to combine your Federal Student Loans with any other debt you may have under the FFELP Consolidation Loan Program. The second reason is if you were to combine your Federal Student Loans with your other debt you would lose all your Federal Benefits that are attached to your Federal Student Loans. For more information on your Federal Benefits please visit the source below.

  2. jed b says:
    oh ok .. i got this for you…

    better check it out, im pretty sure you’ll discover something…

    http://www.studentloansmadeez.com/

  3. Jimmy John says:
    Depending on the type of loan, yes.

    A private or bank loan/consolidation loan will let you borrow more money than you owe.

    I did it one time, I got 200$ more than I needed.

    I put 1000$ in a savings account, and the other 1000$ as a cashflow, wich help you to stay ahead on your budget.

Leave a Reply

Connect with Facebook

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Not finding what you're looking for?
Do a custom search of our entire site:

Get Adobe Flash player