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Student Loan Consolidation Companies

Looking at student loan consolidation companies? Call ACCC first.

When you’re overwhelmed by student debt, student loan consolidation companies can provide a way to reduce your monthly student loan payment with a consolidation loan. But not all student loan consolidation companies provide equal value, and before you sign on the dotted line it’s a good idea to consult a financial professional.

There pros and cons to student loan consolidation. Potential benefits include:

  • Reduced interest rates and lower monthly payments.
  • More financial stability with a fixed interest rate.
  • Simpler finances, with just one payment to make each month.

But student loan consolidation companies have their drawbacks as well. If you’re not careful, you may end up with a new loan that doesn’t save you much money at all. And if you don’t address the conditions or behavior that got you into debt in the first place, you may find yourself just as deeply in debt within a matter of a couple years.

As you compare student loan consolidation companies, the credit counselors at American Consumer Credit Counseling (ACCC) can provide valuable information to help you make the best choices on your journey out of debt.

Evaluate student loan consolidation companies with help from ACCC.

ACCC is a nonprofit organization that seeks to help individuals and families find their way out of debt and live debt free in the future. We provide free credit counseling and a low-cost debt management program, as well as a wealth of educational tools such as a student loan calculator and a financial planning worksheet that can help you manage money more effectively.

When you contact ACCC by phone or in person for a free credit counseling session, we’ll help you get a clear picture of your finances and walk you through all the options for student loan relief. If consolidating student loans seems like the most effective choice, our counselors can help you compare offers from student loan consolidation companies to ensure you make the best decision for your situation.

Alternatives to student loan consolidation companies.

ACCC credit counselors can help you explore alternatives to student loan consolidation companies that may be a more beneficial. These may include:

  • Repayment plans to lower your monthly payments.
  • Deferment or forbearance arrangements to suspend payments for a period of time.
  • A student loan forgiveness program, available to borrowers working in fields such as the military, healthcare, teaching or public service.

Learn more about student loan consolidation companies and ACCC, and about ways to consolidate private student loans.

American Consumer Credit Counseling (ACCC) is a not-for-profit agency that offers credit counseling, housing counseling and other financial services to individuals and consumers nationwide. ACCC also offers a home buyers class and first time home buyer guide that provide help for first time home buyers as well as consumers getting back into the real estate market. ACCC's homebuyer education course provides comprehensive education and home buying tips on everything from choosing a realtor to closing on a new home. Available online and on mobile devices, ACCC's first time home buyer course provides a certification necessary to qualify and close on certain types of mortgage loans. ACCC also offers reverse mortgage info, including details on qualifying for a reverse mortgage and answers to questions like "What is a reverse mortgage?" and "How do reverse mortgages work?"

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