Federal Loan

Student and Federal Loan Consolidation

I recently got the following question from one of my readers:

Dear The Man,

I’m a broke ass college student. And by broke I mean not only don’t I have any money, but I’ve probably already spent about 2 years worth of my expected salary after graduation. And that’s if I DON”T go to grad school!

What should I do?

Your fan,
Broke Dope

Well Brokemeister, don’t worry. Lots of people incur mountains of debt while attending school. Some of them even actually do it on tuition and books! But regardless of what you’ve blown it on, there are solutions for student consolidation of debt.

First of all, be wary of web sites promising “Best Consolidation Loan Student”, “Federal consolidation Loan”, “Federal Loan consolidation”, “Student Loan Consolidation” and more. Heck, that ain’t even proper grammer! Those are just keywords that people are loading into a page in order to get their search results up to the top of the pack (just like this one!). You see, college loan consolidation is a serious business and student loan refinancing attracts unscrupulous lenders.

So, if you’re going to consolidate student loans you need to stick to the big reputable sites. And here is the main list:

• Sallie Mae’s Federal student loan consolidation
• Bank of America’s Federal student consolidation loans
• U.S. Department of Education’s Direct Loan Program
• Federal Student Loan Interest Rate and Consolidation Fact Sheet
• Don’t forget Wikipedia’s entry on Federal Student Loan Consolidation

PS - For my regular readers, this page was not a real question, but is a search engine test… If you’ve got a blog and could link to this page to help test a theory it would be fantastic.

© 2008 Student Loan Information.