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Posted in Student Loans
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macgal

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how do i combine my student loans into 1 payment
I have multiple student loans and I am a single parent. Is there a way to combine my student loans?

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consolidate student loans

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Which loans can I consolidate? You can consolidate pretty much all kinds of federal student loans like Subsidized and Unsubsidized Stafford Loans, PLUS Loans, and Perkins Loans, including most federal loans in default. But be careful—defaulted Direct Consolidation Loans can't be reconsolidated, so you only get one chance to use consolidation to get out of default.

[Pick from the federal student loan smorgasbord.]

When does consolidation make sense? Consolidation might make sense if:

1. You want to combine your federal loans and make just one monthly payment.

2. You want to lock in a fixed interest rate on variable interest rate loans (those borrowed before 2006).

3. You need a way out of default.

4. You have Federal Family Education Loans, or FFEL (federal loans from a bank or private lender like Sallie Mae) and you want those federal student loans to be eligible for Public Service Loan Forgiveness (since only Direct Loans are eligible). 

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student loans

I have loans from Sallie Mae and ECS. I want to combine the loan for 1 easy payment plus I work for a Tittle one school so I woukd like to see if I could get my loans forgiven.  Is there any easy way to approach this? Thanks for your response earlier Lfaltz88.

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Where would I go to do the consolidation? What information will I need to have available for it?

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