Consolidating private and federal student education loans
That is a sizeable, unwelcome gift to take home from school and it’s important to know how to minimize the damage.
The good news is that federal loans carry a six-month grace period so there is time to develop a plan for dealing with them.
Each one of these student loans has its own due dates, interest rates and payment amounts.
The average college graduate in 2016, who took out student loans, owes ,172, a 6% increase from 2015.
There is no hard and fast rule about student loan consolidation, other than be sure to do your research.
Consolidation is a great option to make your payments more manageable and maybe even save some money.
One of the best places to start looking is the federal Direct Consolidation Loan program.
If you did borrow money for college, chances are you received a new loan each semester.
Search for consolidating private and federal student education loans:
It is not unusual to owe money to 8-10 separate lenders, maybe more if you had a combination of private and federal loans.