Black students owe an average of 188% more student loan debt than white students — and consolidation could lead to total cancellation.By Renata SagoThis article was originally published on Word In Black.After decades of what it calls “historical failures in administering student loans,” the U...
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Student Borrowers Face Deadline ; Loan Consolidation Driven by Rising RatesCollege students with federally backed loans should consolidate them before June 30 to lock in current interest rates, student loan industry experts say.Ganey, Terry
For certain borrowers, consolidation was a prerequisite before this deadline to qualify for the upcoming payment count adjustment. Specifically, borrowers with specific federal student loans needed to consolidate their loans through the federal Direct loan program to become eligible for the forgiveness pro...
If you have a federal student loan that doesn't qualify for the Fresh Start program, you can choose loan consolidation to replace your non-eligible loans with a new Direct Loan. This will get your loans out of default if you agree to get on an income-d...
Student Loan Consolidation: What to Know More Borrowers with multiple federal student loans may find it difficult to keep track of making several payments a month. Getty Images To streamline the process, borrowers have the option to consolidate some or all of their ...
The December deadline is a ways away, but borrowers can take a few steps to prepare and get ahead of any potential confusion and avoid payment mishaps. First and foremost, make sure your loan servicer has your most updated contact information – especially if you moved during the last year...
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The following loan types require additional considerations, ahead of the June 30 consolidation application deadline. Perkins loans Think twice before consolidating your Perkins loans if you’re eligible for Perkins loan cancellation, which can forgive your debt if you work a public service...
Once you confirm your loan is an FFEL, you can go to theDirect Consolidation Loan Applicationand fill out your personal information. If you are eligible for the PSLF, make sure to mark that you have or will apply. Otherwise, to qualify for the program, you must sign up for a...