Private Student Loan Debt Sedona AZ

A college grad gets advice on finding lower interest rates for her private student loans.

National Bank of Arizona
(928) 204-1060
1470 W State
Sedona, AZ
 
Wells Fargo Bank
(928) 282-7145
2201 W State Route
Sedona, AZ
 
Arizona State Credit Union
(928) 203-7552
140 Coffee Pot
Sedona, AZ
 
Southwest Student Services
(480) 461-9830
1555 N Fiesta Blvd
Gilbert, AZ
 
M & I Bank-Debbie Utz
(623) 815-4365
9035 W. Union
Peoria, AZ
 
M&I Bank
(928) 204-8802
2010 W State Route
Sedona, AZ
 
Desert Hills Bank - Sedona
(928) 282-7440
2785 W State
Sedona, AZ
 
Chase Bank - Village of Oak Creek
(928) 284-1030
6666 State Route 179
Sedona, AZ
 
Wells Fargo Bank - Safeway
(623) 572-2542
20205 N. 67th Avenue, #100
Glendale, AZ
 
M & I Bank
(623) 463-6100
5704 W. Glenn Drive
Glendale, AZ
 

Private Student Loan Debt

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Q: I have both federal and private college loans to pay off.  I am not too concerned with my federal loans.

After I graduated, I consolidated my federal loans to lock in a low rate and I did a year of AmeriCorps so I was able to get additional money to pay my federal loans. However, my private loans have a variable interest rate.

I had heard of folks who have taken out home equity loans (or have gotten their parents to do so and then pay them back) to take advantage of a fixed rate and use this to pay off their college loan debt.

I am not a homeowner nor can my parents do this for me and would like to know if there are other (creative) ways to get a fixed interest rate and decrease the burden of my private loans. Thank you!

A: Thanks for writing to ask about solving a private college loan question.  You were correct that a homeowner could borrow against the equity in real estate, and often find an interest rate less onerous than that which your private education lender is seeking, and of course interest on home loans is deductible.  Sadly for you, neither you nor your parents have a home to use for this purpose, and several years ago you'd probably be out of luck.

However, in recent years we've learned more about the repayment risk of private education loans, and with data comes underwriters willing to offer options.......my company has recently added a FIXED RATE private loan consolidation product, and our customer service people would be happy to assist you - we're also on the web at www.onesimpleloan.com. 

While we're not the only organization willing to help, we're once again a leader in this field of helping students solve the problem of paying off their education debt....


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