Federal Student Loans Payment Center
Student loans – What happens when they are sold to another company?
Looking for a consolidation loan. There are so many companies there. I heard some of the companies with big discounts on promotional rates of interest (for example, for payments in time, is enrolling in automatic debit, etc.) around and sell your loan to another company. When this happens, the terms have to remain the same as the loan original consolidated (ie interest rate, repayment schedule etc.)? I'm hearing things about this mixture. I contacted the Federal student information Loan center and also say contradictory things.
The "incentives" that lenders offer to go to consolidate are always subject in return, although most lenders will not do this because they want to keep your business. Normally if a loan is sold all terms will remain the same (the interest rate without any incentives have to follow the same). It is possible that may change, but very unlikely. In the 2 years I have worked for a manager student loan and have seen many of lender sales have never seen anyone lose an incentive just for that. If you change lenders and ignore correspondence The new company, made its arrears … well that's another story!
The Future of Federal Student Loans – Event Highlights
