Who Can Help Pay my Private Student Loan?


If I incur multiple private student loans, and they become a major nuisance as far as repayment of monthly payments is concerned, can the federal government be of help to me in the settling of such loans?

A debt counselor on college loans and refinancing programs advised me that if there are debts and loans that the government would actually assist student-borrowers to pay up and settle, these would surely be the federal loans.

Burdensome private college loans are best settled by refinancing them thru student debt consolidation programs. This is the best way by which all of your private-type loans are lumped together as one. In effect, this consolidation will serve as a means of converting your old loans into a new single private student loan.

Generally speaking, all kinds of loan can be considered as a financial onus, weighing down heavily on the borrower, giving him such a difficult time on managing and repaying whatever existing loan he has.

Nonetheless, if you do the right procedures such as managing your loans right, paying them on time and acting as a responsible creditor – plus more importantly, possessing positive attitude - then having and dealing with multiple student loans will be a walk in the park.