Where to get consolidating loans government

24-Jul-2017 05:04 by 8 Comments

Where to get consolidating loans government

You can consolidate Direct Student Loans using one of several income-based repayment plans and there are loan forgiveness programs.However, if you try to refinance a federal loan through a private lender, you will lose eligibility for things like forgiveness programs, deferment, forbearance, as well as the income-based repayment programs.

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You can include federal loans when consolidating with a private lender, but you lose the perks associated with federal loans so it’s best not to mix the two.

The programs are tailored to your income and family size.

You can even switch programs if your financial or family situation changes.

The application process for student loans can take as little as 30 minutes.

To get started, call Debt.org’s trusted partner at 888-502-2105 and let one of their counselors get a snapshot of your overall financial picture.

Ideally, you would qualify for debt consolidation after graduation.

However, you also could qualify when you leave school or are enrolled less than half-time.Our partner will explain all the options available and give you a recommendation.It helps to have your student loan login and PIN so you can provide up-to-date information on the status of all your federal loans.For example, instead of making multiple payments to multiple lenders at various times of the month, you simplify the equation by making a single monthly payment.Learn more about private student loans Private student loans are granted and managed by lending institutions – banks, credit unions, college foundations – and typically charge a higher fixed or variable-interest rate than federally funded loan programs.It is quite common for people with student loans to deal with 10-12 lending institutions, which means 10-12 payments and 10-12 due dates each month.