If you are in college right now, and you find yourself having to take out plenty of loans, don't worry because if you get into a good consolidation program, your loans will be the least of your problems after you graduate. ACS is a great company. I have the bulk of my loans with them. And one loan, which is a small amount of money, I kept unconsolidated. So I am able to make a good comparison.
I got in at what were supposedly the prime rates (I say "supposedly" because as far as the advertisements go, rates always seem to be at record lows). But the interest I pay on the loans I deferred with ACS is a very low 2.9%. And that's incomparable to any credit card out there. I took out nearly thirty thousand in student loans. And since I have consolidated, I only pay about 150.00 a month.
The only bad thing about student loan consolidation is that it may take you longer to pay off your student loans than it would if you hadn't consolidated at all. But that's not nearly as bad as it sounds. It's a real help to only have to pay about 150 a month when I initially took out thirty thousand.
You may not think that same amount would be a help to you if you are currently in college, but trust me, it will be, especially if you are in any major other than finance or business and might have to feel your way around for a little bit after you graduate.
But the low payment isn't the best part about ACS consolidation. They've got a deferment and forbearance program that can't be topped. Forbearance allows you to skip a loan payment for about a month without receiving any late payments or having to pay double the amount the next month. ACS lets you forbear for 36 months, and it's really easy to do. You just call ACS student loan consolidation up and say, I'd like to forbear. It's just that simple. There's no paperwork involved on your part.
ACS student loan consolidation also lets a person defer. That takes some paperwork. You have to print the form that can be found online. However, the times I have done it, it was easier when compared to loans I have not consolidated. I didn't need to mail in any W2 forms or tax returns.
I got in at what were supposedly the prime rates (I say "supposedly" because as far as the advertisements go, rates always seem to be at record lows). But the interest I pay on the loans I deferred with ACS is a very low 2.9%. And that's incomparable to any credit card out there. I took out nearly thirty thousand in student loans. And since I have consolidated, I only pay about 150.00 a month.
The only bad thing about student loan consolidation is that it may take you longer to pay off your student loans than it would if you hadn't consolidated at all. But that's not nearly as bad as it sounds. It's a real help to only have to pay about 150 a month when I initially took out thirty thousand.
You may not think that same amount would be a help to you if you are currently in college, but trust me, it will be, especially if you are in any major other than finance or business and might have to feel your way around for a little bit after you graduate.
But the low payment isn't the best part about ACS consolidation. They've got a deferment and forbearance program that can't be topped. Forbearance allows you to skip a loan payment for about a month without receiving any late payments or having to pay double the amount the next month. ACS lets you forbear for 36 months, and it's really easy to do. You just call ACS student loan consolidation up and say, I'd like to forbear. It's just that simple. There's no paperwork involved on your part.
ACS student loan consolidation also lets a person defer. That takes some paperwork. You have to print the form that can be found online. However, the times I have done it, it was easier when compared to loans I have not consolidated. I didn't need to mail in any W2 forms or tax returns.
Comments
jb
(Guest)
(Guest)
06/22/2009
My dealings with them are a total disaster.
(1).They transferred my servicing in July of 2008 with no permission from me. Since then it has been a total mess.
(2). You must register to see your account and then to register your are forced to accept an agreement to an electronic statement in the place of paper.You also agree not to make check payments.
(3). Their site stated that you can order coupons (NOT!!!). They totally ignore these and keep badgering you to do an electronic payment.
After all the other incompetent activities I refuse to use their payment system and use my bank's bill pay. At least I can trust them.
(4). I have tried to determine the payments. It is impossible. All that ACS will say it "level". Everything I read says 10 years which means it should be about $50.00 a month but it is now over $80.00.
(5).Do not attempt to write them on Friday or within 72 hours os Friday. Almost every Friday response says :I am sorry but we cannot locate your account". Ev
AVOID ACS if you can
(Guest)
(Guest)
03/02/2009
I have had a completely different experience with ACS. My current interst rate is above 6%. I did not choose to consolidate with ACS. They took over my account without my consent or knowledge (until I started getting bills). There are no advantages to having ACS manage your loan. My loan was taken over by ACS after I consolidated with AES/BRAZOS. I had no problems with AES/BRAZOS. I made monthly payments and everybody was happy. After the loan was taken over by ACS, I have had to spend hours on the phone with this company's spokespeople first somewhere over in the middle east and now in Jamaica. Come on, if this company has a relationship with our government, let's hire Americans to take calls. I also want to point out the problems I have had (1)I spent months on the phone and gathering information to verify my original loan amounts after ACS had all my undergraduate loans on my account twice (2)I have to prove whenever (this has happened more then once)my payment is not applied to my
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