I’ve gotten several advertisements in the mail from companies that are offering to lower my student loan payments. They tell me that they can reduce my payments by 50%. This all sounds too good to be true. My question is is this a scam or something that I should look into.
Thanks
It’s pretty easy to reduce payments by simply extending the load period. In the long run you pay a lot more in interest.
Some of these companies have online “calculators” on their websites that you can use to see what your repayment plan would look like after consolidation.
It might be wise to ask your university’s financial aid office or student loan center for a list of reputable operations.