Consolidating private student loans fixed interest rate
The great thing about borrowing from a private lender is the flexibility of the loan term, and agreement.
Private lenders are not beholden to any company rules, regulations, or dogma.
Private lenders can literally do anything they like, and receive your payments in any way they wish.
I’ve heard of Angel Lenders that allow the borrower to borrow the money and start payments a year later (sometimes more).
These are scams that are all too frequently perpetrated on innocent borrowers in the United States, Canada, Australia, and the UK.
Never pay anything up front before the private lender deposits the money into your bank account – NEVER.
There is no sense in paying off student loans when you are going to be borrowing money again for another year of school, college, or community college.Beware of web sites that claim to give private loans to students, and they charge some sort of “up front” fee to be considered as an approved borrower.Beware of the private lender that asks you to make your first repayment installment in advance of getting funded.This also applies to just one or two semesters as well – you can’t be “going to well” (asking a private lender for money) multiple times, because the private lender will not feel good about lending you money when you are already deeply in debt, and planning to go into further debt after you have borrowed from them.The private lender will want you to be graduated and collecting a paycheck in the work force.
The total of the student loan debts was 60,000 dollars.