What kind of questions will I have to answer for consolidation?

Application accuracy and student loan consolidation

Forms can be tedious and reports can be mind-numbing. You’ve just graduated from college and you’re probably ready to scream if you see just one more form or report.

Bad news … there’s (at least) one more form for you to fill out. As frustrating as it may be, don’t rush through the student loan consolidation process. Whether you complete consolidation online or the old-fashioned way with a pen and paper, make sure to fill it out as accurately as possible.

When applying for student loan consolidation, you’ll be asked to provide a number of things, including:

• Social security number
• Complete (and current) mailing address
• driver’s license
• A list of references
• A list of the outstanding loans that you wish to consolidate

The above list is only a general guideline, but it gives you an idea of some of things you’ll be asked. When you apply, you’ll usually have the choice of receiving an application and information packet online or through regular mail.

Your packet should contain information about all aspects of consolidation, including details on how your interest rate is computed. Remember, you shouldn’t have to pay to receive an information package. You should be able to obtain any information that you may need free of charge.

Take your time, read through the application before starting, and never hesitate to seek answers to any questions that arise.