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Debt Relief – Insolvency – Bankruptcy Information » Student Loan Help » What’s the difference between student loan consolidation companies?

What’s the difference between student loan consolidation companies?

The guy on the phone is telling me that they all offer the same deal and the same services, but I don’t believe him. Does it matter if I go with Academic Financial Services (AFS) or Sallie Mae or any other company, or are they really all the same?

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2 Responses to "What’s the difference between student loan consolidation companies?"

  1. JRM says:
    No, they aren’t all the same. While the interest rate they have to give you is mandated by Congress, their service and repayment incentives vary quite a bit. Plus, there have been many new companies that have come into the market literally over night. Go with a well known company. How about the lenders that currently hold your loans? Have they been a problem to work with? Has their service been good? Were they recommended by your aid office? If you can answer ‘yes’ then just consider working with one of them.
  2. flying_eagle says:
    There IS A DIFFERENCE. Its like banks offering home loans – everyone has slightly varying terms and conditions and other side benefits.

    Go with a reputable company which has had good reviews. Ask your friends or other grads/students on who they are working with and ask for feedback.

    Remember to do a lot of research… otherwise you may just flush a lot of money down the drain…

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