Both federal and private lenders recognize that lower monthly payments help may be the best option, if you don’t get the job you want immediately after graduating from colleges.
Find out more about the choices debt consolidation offers.
Ideally, you would qualify for debt consolidation after graduation.
However, you also could qualify when you leave school or are enrolled less than half-time.
Student loan financial aid debt is a tough fight for anyone just out of college facing a mountain of student loans and wondering how they will ever be paid.
With the job market at such a weak point and many wondering if they will even have an income, not to mention enough money to pay back student loan financial aid, many students are wondering what can be done.
If you’re comfortable assuming a little more risk in your payment amount, a variable rate loan does have the potential to offer more savings.
LEARN MORE With Lend Key’s student loan consolidation and refinancing, you can combine your federal and private student loans into one convenient payment with a lower interest rate.
Forbearance is an excellent way to take the stress off having to repay student loans when you have no money, but remember that interest is still coming and a forbearance period can’t last forever.That could help you better manage your finances, and save over the lifetime of your loan.HOW IT WORKS Depending on how long you’ve been out of school, your annual income and credit history is likely to have improved.It is quite common for people with student loans to deal with 10-12 lending institutions, which means 10-12 payments and 10-12 due dates each month.When you consolidate student loans – either federal or private – it’s one payment to one lender, once-a-month. Loan consolidation for student loans was created to make it easier for millions of borrowers to pay off their debt.Unfortunately, it can't be made simpler than this as private loans can't be successfully consolidated with federal loans.