transfer of student loans

[atl41]

This may be a dumb question, but does anyone know of any lenders that will let you consolidate a loan under someone else's name?  By this i mean, my parents have some student loans that are for my education and I would like to return the favor for them sending me to college and take over my part of their balance.  The only thing I have found is taking out a personal loan, but why would I do that, which would be at around 10% when I have a student loan through Citi at 3%.

I asked Citi about adding it to my current loan, but they basically answered me as if it were a crazy question to ask.

Has anyone had any experience with anything like this?

Any input would be greatly appreciated.

[Anonymous]

You can't convert a student loan in your parents' names to a student loan in your name.  When you take out a student loan, the proceeds can only go to a school.

Unless you take out a personal loan, I think you're stuck with just taking over the payments.  Be sure to keep your parents informed if you fall behind since it will be on their credit reports . . .

[Anonymous]

As you are not going to get a better rate than that-

I would start sending mom and dad a check written to CITI every month-

[LynnInMN]

They are right....PLUS loans cannot be converted to someone elses name.

You might want to check your interest rate....PLUS loans have never been offered at 3%. They have for the most part been variable rate loans with the lowest I can find was 4.17%....but they would fluctuate every year when the interest rate is reset.