Start Consolidating student loans with spouse

Consolidating student loans with spouse

There are exceptions: Sallie Mae’s “Smart Option Student Loan,” launched in 2009, forgives loans when students die.

Top will let you know when the first payment is due.

If any of the loans you want to consolidate are still in the grace period, you have the option of indicating on your Direct Consolidation Loan application that you want the servicer that is processing your application to delay the consolidation of your loans until closer to the grace period end date.

Loan consolidation can also give you access to additional loan repayment plans and There is no application fee to consolidate your federal education loans into a Direct Consolidation Loan. Department of Education (ED) or ED’s consolidation loan servicers. Top A Direct Consolidation Loan has a fixed interest rate for the life of the loan.

You may be contacted by private companies that offer to help you apply for a Direct Consolidation Loan, for a fee. There’s no need to pay anyone for assistance in getting a Direct Consolidation Loan. The fixed rate is the weighted average of the interest rates on the loans being consolidated, rounded up to the nearest one-eighth of one percent.

– Source The PSLF says the following types of loans are eligible to be forgiven after 120 on-time payments after October 1, 2007.

What happens to student loan debt when the borrower dies? Federal student loan debt can be discharged through a relatively simple process; private loan debt, however, can shift to parents or other co-signers.

To ask questions about consolidating your loans before you apply for a Direct Consolidation Loan, contact the Loan Consolidation Information Call Center at 1-800-557-7392.

To request technical assistance while you are signed in and completing the online, select the “Contact Us” tab in the top menu bar of Student

If you select this option, you won’t have to begin making payments on your new Direct Consolidation Loan until closer to the end of the grace period on your current loans.

Top Borrowers have different needs, so there are several repayment plans—including income-driven repayment plans, which base your monthly payment amount on your income and family size.

You’ll select a repayment plan when you apply for a Direct Consolidation Loan. Top You apply for a Direct Consolidation Loan through Student After you submit your application electronically at Student or by mailing a paper application, the consolidation servicer you selected will complete the actions required to consolidate your eligible loans.