Can I Transfer My Student Loan To Another Person

But private loans are entirely separate from federal loans.

Can i transfer my student loan to another person. You can not transfer a student loan to another lender unless you refinance your student loans. Here s a look at how it works in many different situations. It might make sense to transfer your loans to a private lender.

Once loans are taken out you can not choose who services your student loans or switch. After all lenders are able to sell or transfer your student loan debt to different creditors. Can you transfer private student loans to federal loans.

The loophole involves refinancing your loans with a private lender under another person s name. If you are trying to have a new student loan servicer other then the big 5 such as mohela grat lakes fed loan etc you will have to refinance. Transfer a student loan to another person s name your ex husband can obtain a loan in his own name and use the proceeds to pay off the student loans.

While your student loans do not transfer with you you may be eligible for similar amounts or in some cases even more at the new school. In order to transfer your student loan. However borrowers generally can t initiate this process.

In order to transfer your student loan. If your loans transfer. However borrowers generally can t initiate this process.

Once your debt is in a private lender s hands it stays that way. The department of education won t let you transfer federal student loans to another person but that doesn t mean it s impossible. This often reduces the loan s interest rate too.