UMich Loan Consolidation FAQs

Paying for College
1

<p>This might help some with loan consolidation questions:</p>

<p><a href=“http://www.finaid.umich.edu/[/url]”>http://www.finaid.umich.edu/&lt;/a&gt;&lt;/p&gt;

<p>Click on the blue text under What’s New for the specifics…</p>

2

<p>bumping, and by the way this info in not just Michigan specific…</p>

3

<p>Everyone has an opinion and what really counts is that as a consumer you have the right to shop around and understand what your options are so you can make good, informed decisions - </p>

<p>The Direct Loan Program is an option - private lenders for profit and not-for profit all offer options too.</p>

<p>I agree with your statement regarding the fine print on some of these benefit programs. Your stats on the partipation rates are interesting and I would be interested to know exactly where this came from.</p>

<p>From my perspective - as a state designated non profit I have a committment to the people in Ohio (either residents and/or students attending Ohio colleges) to provide a program that educates, informs and provides a solid program with particpation rates of 50% or more - that is our commitment to the state and to Ohians.</p>

<p>I am also a parent of two college students and this type of blanket statment on a college site is very disappointing. I would expect the college to present an unbiased opinion on what my options are so I can make a good decision. I have trouble seeing how Univ of Michigan pointing people to a specific program like Direct Lending and discrediting all other programs is acting any different than the alumni groups who are getting money back from the companies they promote!</p>

<p>While I am sure the people on this discussion appreciate knowing the option to use the Direct Program exists I also believe there are some terrific programs out there that can save people thousands of dollars on their student loans. If you do your homework you will ask the question - what do I have to do to earn the benefit and what do I have to do keep the benefit? THEN you can decide which program works for you.</p>

4

<p>Yep indeed, let the barrower beware…</p>