Wednesday, December 6, 2006
Yesterday, I finally got it together and marked several things off my to-do list. I bought stocking stuffers for everyone and nearly finished up my gift list.
I also contacted Graduate Leverage, the company that consolidated my federal student loans when I graduated from law school. Warning...Shameless Plug: I LOVE GRADUATE LEVERAGE!
Unlike other companies out there, GL was started by a group of Harvard MBA students. As their MBA project, they analyzed the student loan industry and found out that students, particularly those in law and medical schools, were being screwed by the industry. The industry had a captive audience with these students as achieving the dream of becoming a lawyer or doctor means massive debt. The federal student loan program only allots $18,500 a year and most law and medical schools cost far more than that, which means students in these professional schools must apply for private loans.
Private loans are based on individual credit and carry interest rates far higher than federal loans. Students in the professional disciplines were being screwed by the companies.
SO...Graduate Leverage was born out of that MBA project as a collective bargaining tool of sorts. I learned about them when one of the founders did a presentation at my law school during my second year. They are FANTASTIC! They consolidated my federal loans at a very low rate and I am now having them consolidate my private loans, which will save me quite a bit over the long haul.
If you're a graduate student in need of debt consolidation assistance, contact Graduate Leverage. They are great to work with, I've always been able to reach a human being when I call, and they assist with any and all questions ASAP.
Ok, shameless plug over.