Their user-friendly website, including helpful articles to help students navigate the world of finance, makes it easy to understand all of your options.So Fi is also the only lender we found that offers unemployment protection, which may allow you to suspend your loan repayments for up to 12 months if you lose your job.Between my student loan and my wife’s student loan we paid 7 in interest for January 2010.In December of 2009 we paid only 1 in interest and in November of 2009 it was 8.If IRF is used in their calculation, rest assured that they are calculating interest the same…they just use a different equation to reach the same number.However, there are some good players out there as well.
This company comes with a strong reputation, maintains a strong "A" rating from the Better Business Bureau, and offers a 100% money back guarantee with their plans.
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?
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.
Many consolidation services offer fixed interest rates for the life of the loan, which can lock in your savings for years to come.
This is good since consolidation loans typically have longer terms than other loans - usually anywhere from 10 to 30 years.
After working with a number of people and answering questions about student loan debt I have come to the conclusion that if you can repay your student loans according to your original ten year repayment plan that might be the best and most optimum way to repay them since it eliminates them quickly.
But to do that you might need to eliminate your other debt to make room for the payments.
If you're in the market to consolidate and better manage your student loans, National Debt Relief should be your first choice.
So Fi (which is pronounced "SEW-fi", short for "SOcial FInance") is one of the most innovative resources available for both federal and private student loan consolidation.
One company that I’ve personally vetted and have direct contact with the CEO is Ameritech Financial.
They do charge a fee for service, but this company cares so much about their borrowers that the fee goes into a special third-party account and they don’t even get paid until services have been rendered.