Consolidating federal student loans calculator
The last thing you want to do is to miss a student loan payment or fail to pay a loan at all because you forgot about it. ) But even if you’re organized, life might be a lot simpler if you had one or two student loan payments instead of 10.And sometimes, you might even be able to save money by refinancing your student loans at a lower interest rate.You are eligible for federal loan consolidation if you have two or more federal student loans and have graduated from school or dropped below half-time status.
That said, certain federal student loans have forgiveness programs that are specific for that kind of loan.Find out the pros and cons to consolidation, if you're eligible, and how to apply. But as if having a debt that may take 10 years or more to repay isn’t enough, most of us also graduate with several different student loans.Each loan may have different servicing company, a different interest rate, repayment schedule, and due date.Do you have too many student loans to keep track of?Get answers to frequently-asked questions on federal student loan consolidation loans and private student loan refinancing.