Consolidating private student loans federal student loans

Posted by / 19-Dec-2017 01:02

In addition, if you use a hardship-based program like an IBR, you must certify your income to enroll.

Each year, you must recertify your income and family size to stay enrolled.

When it comes to student loans, it seems like nothing is ever easy.

When you consolidate student loans – either federal or private – it’s one payment to one lender, once-a-month. Loan consolidation for student loans was created to make it easier for millions of borrowers to pay off their debt.

Both federal and private lenders recognize that lower monthly payments help may be the best option, if you don’t get the job you want immediately after graduating from colleges.

Find out more about the choices debt consolidation offers.

There is only one debt relief option that allows you to combine both federal and private student loans together. None of the above are guaranteed if you use federal repayment plans.

If fact, if you keep your federal and private loans separate, the best you can hope for is two payments.

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Now that you are facing the stress of dealing with the repayment of your student loans, you may want to opt for consolidation.