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Student loans

By Terry Savage on October 22, 2020 | College Savings / Student Loans

Need help or direction for my daughters school loans. We need to Consolidate while interest rates are low.

Terry Says

Wait — it’s not that simple! If these are Federal student loans you can consolidate only once — and if you do, you lose benefits like deferral (in tough times) or income based repayment options. AND, you consolidate at Federal rates which are not so low!
Here’s a link to the government’s student loan page that describes the options and issues around consolidating student loans, and current rates.

If those are PRIVATE student loans, it’s a different story. Here’s a link to a section on Finaid.org that will give you all the info you need.

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