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    Consolidatingprivatestudent loans org

    The company is an umbrella company for 15 trusts that hold 800,000 private student loans totaling billion.The loans in question here, estimated at billion or more, are in default, meaning the borrowers fell behind on their payments. Incredibly, the government owns about 85 percent of that debt, as a result of loans that are disbursed via government student loan programs according to Jason Spencer Dallas. alone, student loan debt totals more than a trillion dollars.

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    Christmas is coming early this year for many student loan borrowers and never before has Santa been this generous.The defaulted borrowers then become targets of the DOE’s debt collectors.These firms, some of them owned by the loan servicers, wield the federal government’s broad powers to garnish the wages of borrowers, as well as parents and grandparents who co-signed the loans.The US Department of Education will then contact the lenders to determine loan payoff amounts and issue a new consolidation loan to pay off the loan balances on the borrower’s existing loans.Until you receive notification that your original loans have been paid off, continue making payments on those loans.

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