This is really cool....consolidateyourself.com; they offer a complete do it yourself facility to consolidate your loans. You only need your FASFA id/pin so you can look up your loans and loan detail to include on the consolidation application.
What's really interesting is their borrower benefit. 4% cash back. It's graduated in the sense that you get 1% back if you make consistent on time payments. This is an unsually generous benefit, we presume, because it's offered in a low touch environment.
consolidateyourself.com is a brand of Erie Processing Corporation in Florida. We've never heard of Erie Processing before, so do a little checking around before you engage in business with them. This is a great concept though.
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Here is some information on Erie Proessing Corp.
Erie Processing Corporation (Erie) formed in 2004 and located in Largo, Florida, is a leader in the education finance industry. Erie began as a select group of industry professionals and has grown into a company that is now creating the industry standard. Erie has processed over $960 million in 2006 while maintaining a 0% default rate. Erie expects to process over 20,000 consolidations representing over $1.2 billion in student loans during 2007.
Erie Processing has a network of marketing affiliates that continues to grow due to excellent borrower benefit programs, prompt and accurate processing and reduced turnaround time for loan funding. We are dedicated to streamlining the loan process and management process. Ultimately, these benefits translate into lower interest, reduced payments and customer satisfaction thereby creating a lasting beneficial partnership.
Erie Processing Corporation is very excited about ConsolidateYourself.com. Our idea behind ConsolidateYourself.com is to cut out the middleman. This new process will allow us to offer a generous benefit and give the student back the money that would otherwise go to a marketing company. With ConsolidateYourself.com we are expecting to create a new paradigm in student loan consolidation.
This information is now posted at ConsolidateYourself.com.
For additional information contact Erie's CFO, Dwayne Martins at 727.593.1900 x117.
These guys are crooks. They telemarketed my mother under another company name, The Federal Loan Source, and harrased her to sign my name to a consolidation application. As far as I know this is not legal. I went with Sallie Mae, who was my original lender to begin with.
First, The Federal Loan Source is a completly different corporation. They are a marketing firm, not a consolidating lender. While they have common ownership The Federal Loan Source has nothing to do with Consolidateyourself.com. The whole purpose of Consolidateyourself.com is to eliminate the marketer and give the benefit to the student. This claim is simply not true and there has been no evidence left here to support this ridiculous claim. We never use such tacticts. Oh and by the way we work very closely with Sallie Mae, so if you consolidate with us you would ultimately end up with Sallie Mae as your loan holder and servicer.
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