Thread: consolidation

Has anyone ever done a consolidation with the U.S. DEPARTMENT OF EDUCATION CONSOLIDATION DEPARTMENT LOAN ORIGINATION CENTER. If so can you share your experience with them. Meaning are the good or bad and are they reasonable with payment options.

I did a consolidation with the US DOE in 1999, having being serviced with them since 1996. I've never had any problems with them.. There website is good as well, with a lot of account information available. I always do electronic payment with them and it always posts 1-2 days after I submit it.

I started with a 20 year payment plan but once I moved up in my career, I just called them and changed it to the 10 year plan; and did it without any problems... They have been very helpful to me.

Thank you (me)

You do mean the William D Ford Direct Loan Program. It has many names. I did my consolidation through them. It was pretty painless. You have to make sure all the info is accurate. They also have a online application which would make it easier. This allows your monthly payments to be very low.

Good LUck

roni.

Charles wrote:
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Has anyone ever done a consolidation with the U.S. DEPARTMENT OF EDUCATION CONSOLIDATION DEPARTMENT LOAN ORIGINATION CENTER. If so can you share your experience with them. Meaning are the good or bad and are they reasonable with payment options.

Can you give a web address?? Please thanks!

J

Very easy to deal with, if you have direct debit from an account they'll knock the interest rate down a 1/4 % too.

I consolidated everything but my Perkins loan (very low interest rate). Plus, in my field of study, I can work in many areas and have my Perkins loan forgiven a certain % per year. I'd lose that if I consolidated it.

Kelly

http://www.ed.gov/DirectLoan

roni