Consolidating federal graduate loans dating someone who is a recovering alcoholic
Here are the main differences between federal student loan consolidation and student loan refinancing. Student Loan Consolidation with the federal government Federal student loans are the only student loans eligible for a Direct Loan Consolidation.
This includes: Importantly, private student loans are not eligible for a Direct Consolidation Loan. Student Loan Refinancing With student loan refinancing, both federal and private student loans are eligible.
Student loan consolidation or student loan refinancing?
The decision is an important one, and could mean tens of thousands of dollars in savings.
If you want to go into deferment (when you temporarily stop making payments, perhaps due to unemployment), spouses must qualify for deferment.
With student loan refinancing, the result is a new student loan with a lower interest rate, single monthly payment and single student loan servicer.
You can also choose a fixed or variable interest rate.
Student loan consolidation programs are unique because they offer certain benefits that only come with student loans.
A few of the biggies are: In general, consolidation is most beneficial when you consolidate federal student loans under as part of a government-sponsored consolidation program.
You can choose to refinance federal student loans, private student loans or both.