Don’t. Nationwide Student Loan is here for you.
Student Loans and the consequential debt arising from them are a common thing today. All you need is some basic information to get started. First of all, you may ask what loans qualify?
Most federal student loans, including the following, are eligible for consolidation:
- Direct Subsidized Loans
- Direct Unsubsidized Loans
- Subsidized Federal Stafford Loans
- Unsubsidized Federal Stafford Loans
- Direct PLUS Loans
- PLUS loans from the Federal Family Education Loan (FFEL) Program
- Supplemental Loans for Students (SLS)
- Federal Perkins Loans
- Federal Nursing Loans
- Health Education Assistance Loans
- some existing consolidation loans
If you are in default, you must meet certain requirements before you can consolidate your loans.
A PLUS loan made to the parent of a dependent student cannot be transferred to the student through consolidation. Therefore, a student who is applying for loan consolidation cannot include the PLUS loan the parent took out for the dependent student’s education. Parents can consolidate the loans taken out under their name.
Then, carefully consider the possibility of consolidating your loans. Loan consolidation can greatly simplify loan repayment by centralizing your loans to one bill and can lower monthly payments by giving you up to 30 years to repay your loans. You might also have access to alternative repayment plans you would not have had before, and you’ll be able to switch your variable interest rate loans to a fixed interest rate.
Once your loans are combined into a Loan Consolidation, they cannot be removed. The loans that were consolidated are paid off and no longer exist. Honestly there is a lot more to go over and the best step you can make right now is to talk to one of our experts. Click contact us above or click right here to start!