private-loan-checklist-consumer-guidance

It is strongly in your interest to consider Federal Student Loans before considering private education loans, as previously noted. But there are some other factors to consider: 

• Private education loans are extremely difficult to discharge under current Federal bankruptcy laws.
• It is not possible to consolidate both Federal student loans and private education loans.
• Consolidation of private education loans usually involves higher rates than consolidation of Federal student loans.

Consumer guidance on student loans is available from the Federal Trade Commission and the US Department of Education. Some "third-party" reference sites provide neutral guidance without preferential treatment to lenders on loan products. The Consumer Financial Protection Bureau provides useful guidance. Complaints regarding private education loans can be filed with the Consumer Financial Protection Bureau.