Consolidating studentloans com
In this case, you will only lose your federal loan protections such as access to income-driven repayment.
Still, if you want to qualify for loan repayment programs, the consolidation might be a good variant.
However, there are other options for private student loans, which I’ll talk about below. ” It’s a frustrating experience to have so many lenders vying for your money.And what can you do if the monthly payments are too high to manage? So instead of multiple student loan payments (one for each of your loans), you’d make one single payment every month to one lender.Most of the current deferment and forbearance provisions of Direct student loans are retained after being consolidated.Specific deferment options include: Repayment terms range from 10 to 30 years, depending on the amount being refinanced.