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I am in need of some advise. I have many loans in default and are due for garishment. The collectors want 900 a month for 36 months for a 31K loans. I can not afford this, but it my only option to stop garishment. I obtain SLRO services out of frustration and not knowing what else to do. I tried settling my account on my own but I can not afford this monthly repayment amount. I have 3 days to cancel SLRO and recieve my full refund. What can I do. The collector is CBE for Edfund.

SLRO is a waste of time...period. You owe $31K. Rehab would be $310 per month for 9 months or as stated under the Higher Education Act "reasonable and affordable" payments based on your income. Your loan would come out of default and would then be current. If CBE refuses you reasonable and affordable payments, you have grounds to file a complaint with the Student Loan Ombudsman and they will intervene for you. You must specifically ask for rehab and use the phrase "I am entitled to reasonable and affordable payments under the HEA."

OR..simply consolidate yor loan with the Direct Loan Program thru the US Depatment of Education. Since you are in default, you would be assigned to the Income Contingent Repayment Plan...

All of this is public information on student loan websites all off the net. SLRO will charge you big bucks to send you a consolidation app. GET YOUR REFUND ASAP!!!!!

There are links on consolidation and rehab inthe sticky section!!

Sub: #1 posted on Tue, 01/06/2009 - 17:25

Moderators Cum Industry Expert
(Posts: 17209 | Credits: 4746.14)

Splitting this into its own thread

Sub: #2 posted on Tue, 01/06/2009 - 18:49

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The SLRO is AWFUL!!! They psuhed me to pay them $1000 (I barely had) to help me ASAP.. and kept stressing the urgency of payment, yet it has been over 5 months and I have heard VERY LITTLE!!!

The staff is EXTREMELY rude and I would not recommend their services to anyone in need of relief. I would rather have done this myself.


Sub: #3 posted on Thu, 01/22/2009 - 07:19



Sub: #4 posted on Sun, 02/01/2009 - 07:31


No, i have to disagree they really do help...u guys can expect that they clear all ur debt like that magically...but really when ur in a bind they really do help trust me its worth a shot!!

Sub: #5 posted on Wed, 02/04/2009 - 05:51


NOT perfect(nothing really is however), however, worth it when u are in a bind, they do help

Sub: #6 posted on Wed, 02/04/2009 - 05:53


SLRO is a waste, they basically stole my money. I went with DirectLoan route. They are great, they are run by the Gov't and require no money. Please do not contact SLRO I wish I would have seen these posts 5 months ago, I would have saved my money and would not have wasted 5 months

Sub: #7 posted on Thu, 03/26/2009 - 23:43


SLRO overcharges for things you can do for yourself for free.

Sub: #8 posted on Fri, 03/27/2009 - 18:23

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(Posts: 17209 | Credits: 4746.14)

Nearing a year of "work" and not only has nothing improved - they've mislead and actually LIED to me. Awful.

Sub: #9 posted on Wed, 05/13/2009 - 00:35


Again, SLRO cannot do anything for you that you cannot do for yourself. The DOE site is full off information on resolving a default, from rehab to consolidation. Handing stuff over to a third party will only delay getting your default resolved. Dump them and do it yourself.

Sub: #10 posted on Wed, 05/13/2009 - 00:39

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(Posts: 17209 | Credits: 4746.14)

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