Loan Consolidation A Less Viable Option For Debt Burdened Graduates

Many students are unaware that consolidation options are more limited now than they were for students who graduated a few years ago. The U.S. Department of Education is nearly the only loan consolidator in the nation as many lenders have suspended consolidations because of the credit crunch. Consolidation was a popular option for many years, because federal loans carried variable rates, which hit 40-year lows in 2002. Some students used consolidation to lock in interest rates as low as 2.8 percent. Some former students struggling in today's tough job market are having trouble dealing with their debt. Read more at:
http://www.pittsburghlive.com/x/pittsburghtrib/news/tribpm/s_598844.html

Comments

[debt reduction]

Thank you so much for your post! You really hit the nail on the head with this one. With the economy the way it is right now with all the layoffs and more to come; government spending and deficit out of control; the continued housing slump; one wonders where to turn for help. It sure is nice to know that there are debt management companies out there that can help folks avoid bankruptcy and still keep their heads above water. Thanks so much for the taking the time to post this information.