Consolidating federal loan student

If you already made 30 and you consolidate, you will lose credit for those 30.Finally, once you consolidate your loans, there is no going back.

You could also increase the period of time for repayment in order to lower your monthly payments.It is usually difficult to convince a private lender to release a cosigner.Of course, if you consolidate all your private student loans, you will have just one monthly payment for them, which can be easier for many people to manage than paying on several loans every month.If you are already making qualifying payments toward the Public Service Loan Forgiveness program or are on an income-driven repayment plan, you will lose credit for the payments you have made and have to start over.For example, for your student loans to be forgiven under the Public Service Loan Forgiveness program, you must make 120 payments.

Leave a Reply