Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Student Loans
Profile Image

Question By
miflame

0 Contributions
0 People Helped
How do I consolidate all student loans into one to pay back when I can?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Results 1-3 of 3Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
1 Contribution
41 People Helped
Most Helpful Response

Helpful to 41 out of 44 people

Go to www.fedloan. I just consalidated all of my many loans into one monthly payment owed to the Department of Education.  They pay off your loans to all the different lenders and then you pay the DOE one monthly payment.  The process was quick and fairly easy.  I even qualified for a "pay as you earn" option.  Right now my monthly minimum payment is $0, but I still pay at least $100/mo.  You will have to requalify yearly for such a program, but it's worth the minimum hassle.  The above answer also has a lot of good suggestions. Speak to the financial aid office, and definitely consider deferrment and forbearance options to help alleviate some of the pressure.

Top Contributor
7368 Contributions
3810 People Helped

Consult with financial aid office.

Helpful to 12 out of 12 people

The financial aid office will have the contact information if you don't already have it.  Depending on your situation, you may be able to get a forebearance or a deferment, both of which will delay payment.  But it will not be a "when I can" situation unless the income is too low right now.  You certainly want to get student loans paid off as quickly as possible because they do not go away until they are paid. 

1 Contribution
3 People Helped

Helpful to 3 out of 4 people

I second knk103's response. Be careful of private refinancing offers for federal loans: you lose a lot of the flexibility in repayment and forbarence offered with government loans.

Results 1-3 of 3Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.