The Student Loan Help Center assists you with consolidation of your federal student loans by counseling you on your options and preparing the paperwork to file with the Department of Education. It does not refinance student loans, nor does it work with student loan consolidation for private loans. However, if you have federal loans you’d like to combine in order to cut your payments and perhaps qualify for a decreased payment or loan forgiveness, this company can handle the documentation for you.
The rate for this service varies more than most of the consolidation services we considered, varying from $395 to $1,295, depending on the amount and complexity of your loans. The most expensive fees are associated with cases involving defaulted loans or wage garnishments. However, this is the only fee you pay. It does not finance the loans itself but submits the paperwork to the Department of Education, which, in turn, grants a Direct Consolidation Loan to you. You then make single payments. If necessary, The Student Loan Help Center can reapply for loans if your situation changes.
The customer service representatives we spoke to, while knowledgeable, varied in their assistance. One refused to give us information until we gave him access to our loans. The second was forthcoming in answering our questions. He asked a few general questions having to do with the loan amounts and finances, then gave us some suggestions, including one that was very advantageous to our test case.
There is some good information on the website, but it’s limited to the speaking appearances of its founder, Bruce Mesnekoff. There is a link to a book by him, but it leads to a purchase link by Amazon.
The Student Loan Help Center focuses exclusively on helping graduates consolidate their federal student loans. If you have a private student loan, this service is not for you. Otherwise, this company offers good customer service with knowledgeable representatives. You can apply for a federal Direct Consolidation Loan on your own, but if you are too busy or not interested in dealing with government red tape, then this service can help you group those loans together and possibly qualify for lower rates or loan forgiveness.