Consolidating to a direct loan
If you feel overwhelmed with managing your student loan debt, don’t panic. One way to make student loans more manageable is through consolidation.
When you consolidate your debt, you combine all those loans into one.
This isn’t a solution that works well for everyone (even if you do have several different loans to manage).
People who are working in the public sector or taking advantage of federal debt relief programs such as income-based repayment or public service forgiveness may not want to refinance, as these programs do not transfer to private refinance loans.
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Your school may have alternate entrance counseling requirements.
Check with your school's financial aid office to be sure that the counseling available on this Web site satisfies its requirements for entrance counseling.
Borrowers can consolidate once they complete school, leave school or fall below half-time student status.
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.
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.
You must have an FSA IDto access all services offered by this Web site. The FSA IDalso allows you to sign your If you have not previously received a Direct Loan or Federal Family Education Loan (FFEL), the Federal Government requires you to complete entrance counseling to ensure that you understand the responsibilities and obligations you are assuming.