Consolidating subsidized and unsubsidized loans
When you complete your online application for the consolidated loan you can choose a payment that is income contingent and based on what you can really afford.
Learn more about Direct Consolidation Loans on the Federal Student Aid site Apply now at Student Private student loans are NOT eligible for consolidation into a Direct Consolidation Loan.You may also add eligible loans to your existing Direct Consolidation Loan using the form below – if you are within 180 days of the date we paid off the first loans you are consolidating.After 180 days, you will need to apply for a new Direct Consolidation Loan.If you'd like to stay posted on all the latest get out of debt news and scam alerts, subscribe to my free newsletter.Loan consolidation can be helpful for borrowers who want to combine their eligible federal student loans into a single Direct Consolidation Loan.I will be moving from California to Nevada for this job too.
I would like your advice since I went back to college am 40yrs old now that I finished college.
But based on your past income and circumstances, your income contingent payment may be as low as $0 per month at the moment.
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Just keep in mind that while your student loans may be forgiven after 20-25 years in an income contingent program, the balance will continue to increase and the forgiven debt may be taxable.
Outside of that approach the fastest way to eliminate all of your student loans would be through a public service loan forgiveness program. As far as the timing of all of this it will really depend on how quickly you get moving with this and what the Federal Direct Consolidation Loan program establishes as your first payment.
Can I get the extended payment plan when I consolidate?