Loan Consolidation

4 Responses to “How do I know if I am eligible for student loan debt consolidation?”

1. Student Loans on August 5th, 2009 at 9:57 pm

   Many companies have a tendency to throw out a lot of information at students around this time which can end up sounding really confusing; there are a couple factors to consider when determining if you are eligible for the Federal Family Education Loan consolidation Program.

   First off, have you graduated from school yet? A student is only eligible to consolidate their Federal Student Loans if they are not in In School status. As of July 1st, 2006, students are no longer eligible to consolidate their Federal Student Loans while attending school and are at least half time status or higher.

   Second, do you have a rough idea of how much debt you have in Federal Student Loans? A Student or Parent must have a minimum of $7,500 in Federal Student Loan debt to qualify for the FFELP Consolidation program. This can be a combination of Federal Stafford Loans and Federal Perkins loans.

   Please see the source below in order to research more on In School status for students, and a more in depth description of eligibility for the FFELP Consolidation program.

2. payingcollege on August 5th, 2009 at 9:57 pm

   If you are a student borrower, you are eligible if your federal student loans are in grace, repayment, deferment, or forbearance, meaning you’ve separated from school and will need to start (or already are) paying them back.

   Here’s a list of loans that are eligible: http://www.salliemae.com/after_graduation/manage_your_loans/consolidate_student_loans/federal/faqs/eligible.htm

3. Marquita O on August 5th, 2009 at 9:57 pm

   A good site that explains alot about a bad credit personal loan is here read the stuff on this site before deciding who to choose as a loan provider
   http://www.loans.tohelpyou.info/refinance/Personal_Loan.html

4. Your Embarrassing Moments on August 5th, 2009 at 9:58 pm

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