Federal consolidation loans allow borrowers to combine several federal student loans into one loan to streamline loan repayment.The monthly payment amount may decrease because repayment can be spread over a longer time period.It seems that a lot of companies are advertising on TV and other places that they can “help you consolidate or get rid of your student loans”. That help comes at a cost – and it's a cost that you don't need to pay to get help with your student loans.While these companies aren't necessarily student loan scams, they are taking advantage of you because they are making you pay for something you don't need.For example, if the borrower rehabilitates the loan by making satisfactory repayment arrangements through his/her loan servicer, he/she may be eligible to consolidate the loans.Also, borrowers may rehabilitate defaulted loans by consolidating them and agreeing to repay them in the income-based repayment plan.Consolidation companies and programs can offer several benefits in additional to simplifying the repayment process.
The company also provides unemployment protection and career support.
Student Loan Hero provides customers with the support they need to organize, manage and repay their student loans.
Based in Austin, Texas, the company has helped more than 60,000 Americans to get out of debt faster.
Finding the right loan can be time consuming, and confusing.
That's why we've simplified the process using a single platform that allows you to find, customize, and fund your loan through our network of credit unions and community banks.“It seemed like the easiest process!