Once in repayment, there may be times when you are unable to make your monthly payment.
The only exception to this rule is a Federal Perkins Loans.
If you consolidate Perkins Loans, they are included in the unsubsidized portion of the Consolidation Loan and do not retain their interest benefits.
Federal student loan consolidation basics How to consolidate federal student loans Benefits of federal consolidation Drawbacks of federal consolidation Private student loan consolidation (student loan refinancing) When you consolidate federal loans, the government pays them off and replaces them with a direct consolidation loan.
You’re generally eligible once you graduate, leave school or drop below half-time enrollment.
The notion to consolidate student loans has no doubt crossed your mind, but if you’re like most graduates, you may be unsure of where to start.