However, I find that those limits, when based on income, are usually pretty spot on for most.
I would like there to be an option for those that lose income or such, something different than the norm.
The borrowing limits, again, are pretty typical for the industry.
Is your student loan servicer charging you fees you don’t agree with, failing to allocate your payments the right way, or simply providing poor customer service? Many borrowers have similar issues with their student loan servicers and the Consumer Financial Protection Bureau (CFPB) can help.
The CFPB is a government agency that protects consumers of financial products and services — everything from student loans and mortgages to credit reporting and debt collection.
Once loans are combined into a Direct Consolidation Loan, they cannot be removed.
The previous loans are paid off and no longer exist.
“What we’re seeing more of are situations where people are led to believe they need assistance consolidating their student loans,” said Susan Adams Loyd, President and CEO of BBB of Minnesota and North Dakota.
“Unfortunately, what many of these companies offering their help are actually doing is helping themselves to hefty fees for services people can perform themselves, for free, at ” A lot of companies claim to offer assistance to students as far as consolidating their loans and learning about relief programs they may qualify for – such as Public Service Loan Forgiveness or the Stafford Loan Forgiveness Program. Some of these companies even ask students to provide their Federal Student Aid (FSA) ID, which puts them at risk of identity theft. “Our office has seen an increase of student borrowers contacting us with concerns about the personal information shared with these companies,” said Betsy Talbot, Manager of Licensing and Registration for the Minnesota Office of Higher Education.
“Students can contact our office if they have any questions about the company they are dealing with or the information they are asked to provide.” The US Department of Education offers many tips to individuals with outstanding student loans to help them determine whether loan consolidation is right for them.