Student loans
Grand daughter has under graduate and physician assistant school loans. Is it better to combine all loans? The undergraduate loans are thru a bank and the other I am not sure about. Trying to do leg work so when she graduates next year, she can understand her options. Do you have a book on this subject? Thank you
Terry Says
That’s so nice of you to be concerned. But this is not a project you should be undertaking. This is HER debt, and she needs to understand the rules.
First of all, she needs to know which of her loans a Federal student loans, and if she has any PRIVATE loans.
You NEVER want to combine them, and you need to understand all the options for each loan, as well as the programs such as Income Based REpayment plans that apply to Federal student loans.
As well, she should know the repayment start date (generally 6 months after graduation) for each of those loans.
She should go to StudentAid.gov to sort out which loans are which. She has a student loan account number, and all FEDERAL loans will show up there.
If she is graduating in Spring 2025, this is the time to start reviewing her options. But some of the repayment options will certainly change under the next administration.
Just before graduation, she might want to contact student loan expert Rae Kaplan at FinancialRelief.com to find out the latest loan program. If she is going into the medical field, she may even qualify for the public service loan forgiveness program. So it’s worth checking it out with an expert.
