Need help consolidating my student loans
Now that we have discussed some of the benefits to why you should consolidate your student loans, now we can talk a little bit about some of the aspects of student loan consolidation that important to know before making your decision to consolidate your student loans.Be sure to really make sure you understand the ins and outs when considering the consolidation of your federal student loans into a private consolidation.Federal student loans consolidation and consolidation through a bank or private lender is not the same.Federal student loans comes with certain rights and benefits that will be removed if the loans are consolidated into a private consolidation loan.If you would like to add other eligible loans, your servicer must receive your Request to Add Loans Form within 180 days from the date your Direct Consolidation Loan is completed (originated).
Also, some servicers will allow you to have a lower interest by you opting into a auto payment plan. Student loan default can be a real serious matter if not addressed, Default happens when a borrower has when over 270 days without making a payment.Your life and future looks to be full sunshine and promise. Then on one of those bright sunny days a visit to your mailbox ends with a nice little letter describing how for the next 30 years you will be paying back nearly a mortgage payment back for your student loans.