Consolidating to direct loans Flirtlivesex
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.
Consolidating student loans via refinancing is best for people whose financial position - in terms of employment, cash flow, and credit - has improved since they graduated from school.
Federal Direct Subsidized and Unsubsidized Loans are eligible for all income-driven repayment plans.Take the time to review your situation and the benefits and drawbacks of Direct Loan Consolidation before making a decision.Depending on your situation, using a Direct Consolidation Loan could be a great strategy to help pay down your debts more quickly: If tracking all your student loan payments is driving you crazy, Direct Loan Consolidation may inject a well-needed dose of sanity into your life and budget.You will lose your rights under the federal loan programs once you choose to consolidate with a private lender.Direct consolidation loans are now the only type of federal student consolidation loan.
Consolidating federal student loans may be a good strategy to lower monthly payments or to get out of default, but it is not always a good idea.