FAQs

We at student debt consolidation provide you full information about the student loans. You can ask any question about student loans and student loans consolidation here.

No. Parents are, however, responsible for Student loans. Parents will only be responsible for your educational loans if they co-sign your loan. In general you and you alone are responsible for repaying your educational loans.

There is no credit check, so people with less than good credit do not have to worry about being approved for a consolidation.

This ultimately depends on the current interest rate, but with student debt consolidation you can lower your payments by up to 70%! You can use our loan calculator to calculate estimated payments after you consolidate with us.

Credit reports are typically updated at the end of each month. Once the consolidation is complete your credit report will now reflect any of your defaulted student loans as "Paid in Full". It will also show a new consolidated loan in current and repayment status.

With the new student loan, all of your forbearance and deferment time has been restored. You simply need to call your lender to request that the loan be placed into either forbearance or deferment depending on your situation.

Your first billing statement will be mailed to you 30 days from the date that the lender of your consolidated loan submits payment to your original lender.

Your loan is being transferred from Direct Loans to your final lender in order for you to receive the benefits of consolidating your student loans through Student debt consolidation, such as the interest rate reduction and the reduction for setting up your monthly payments on automatic debit.

Once the consolidation is complete you are eligible to apply for additional student loans as you now qualify for all types of programs in order to complete your education.