Consolidating your student loans is defiantly the way to go, but do you qualify? Do you need to apply for consolidation? Here is a handy guide to tell you if you are eligible and if you should apply.
You Should Consolidate If:
- If you are having trouble paying your monthly payments because they are too high
- If you are paying off multiple student loans and you are losing track of what goes to who.
- If you feel your interest rate is currently way to high.
You Are Eligible If:
- You have more than $7,500 in student debt
- Have graduated for fallen bellow half time student status
- If your loans are in grace period, repayment, deferment or forbearance
- If you are a parent, you can consolidate any time.
- If you have no other loans currently consolidating.
- You must be a US citizen
