Pennsylvania’s defaulted student loan crisis

A student loan repayment crisis is brewing in Pennsylvania. According to the Department of Education; students who attended for-profit institutions in Pennsylvania are defaulting on their student loans at three times the rate of those who attended traditional universities. One … read more →

Is a collection agency calling about your defaulted student loan?

If  I defaulted on my student loans for an extended period of time, chances are the Department of Education will sell my loan to a collection agency. When that happens, you won’t be able to make any payments to the … read more →

How come university tuition raised more than 8% last year, when most prices raised only half as much?

How come so few new jobs are created… in a society where so many intelligent, well-educated people are looking for work?   How come health care costs go up year after year – like education expenses – at twice the … read more →

Student loan consolidation faq

How do I apply, or get started? The easiest way to get started with your loan consolidation is to fill out an application either by mail, or online. What are the benefits of consolidating? ●    Your credit score and history … read more →

Consolidating my defaulted loan

To qualify for Direct Consolidation Loans, borrowers must have at least one Direct Loan or Federal Family Education Loan (FFEL) that is in grace, repayment, deferment, or default status. Loans that are in an in-school status cannot be included in … read more →

Loans enrolled in school

Yes and No. Effective for Direct Consolidation Loan applications received on or after July 1, 2006, borrowers who are enrolled in school cannot consolidate loans that are in an in-school status. These are loans that have not yet entered or … read more →

Loans that are in grace

Yes, Borrowers who consolidate loans that are in grace may receive a lower interest rate on their Direct Consolidation Loans if they are consolidating variable rate loans. However, once grace status loans are consolidated borrowers lose any remaining grace period. … read more →

Consequences of defaulting

Borrowers who fail to make a payment on time are considered delinquent on their Direct Consolidation Loans. Borrowers who do not make payments for 270 days are in default. Defaulting has severe and long-lasting consequences, as follows: The Department of … read more →