Consolidating subsidized and unsubsidized stafford loans
If you have federal student loans and a) have too many different payments to keep track off or b) would like to qualify for different repayment plans like income-driven repayment or Public Service Loan Forgiveness, consolidation might be a good idea!
Consolidating your federal loans will give you the opportunity to consolidate multiple loans into one (lower) monthly payment, and also let you choose a new repayment term and repayment plan.
The cost of a secondary education has increased substantially in recent years and it’s not showing any signs of slowing down any time soon.
Requirements vary depending on the type of loan, but most offer forgiveness for those employed in certain public-service occupations.Without getting some kind of education after high school your chances of getting a good job or making a decent wage decrease dramatically.Because of this, many people who are interested in going to college have to explore different options for coming up with money to pay for school.Student debt has reached an all-time high in the U. of late, with an estimated 40 million people now owing an average balance of ,000, according to credit report company Experian.
With student loans soaring, debt-saddled students and graduates are desperate for any strategy that may help them escape their burden.If you answered “yes” to all of these, you might want to look into consolidating your loans.