Consolidating undergraduate and graduate student loans

Consolidating your loans may result in the loss of benefits and incentives offered by the current holder of your loans.

Please contact your lender directly if you believe there are benefits associated with your loans before you consider consolidating.

Federal Direct Loans are student loans that are provided to the student directly from the U. Four types of loans offered under this program: Stafford Loans are loans available to undergraduate students on the basis of financial needs.

For the most part, any student loan distributed after July 1, 2010 is a federal Direct Loan.

Most go to students whose families’ annual income is less than ,000.

If you’re an undergraduate, the maximum annual amount of a subsidized loan depends on your year in school.

The government pays your interest for you while you’re in school.

Private student loans are available, but every expert, even those who work for banks and credit unions, advise students to exhaust all avenues for federal aid first.

Once the maximum amount is reached, the student will no longer receive financial assistance from the government.

To complete their degree, the student will have to seek additional assistance through the use of personal loans.

A consolidation loan is a federal student loan that combines multiple federal student loans into one loan to lower monthly payment and make repayment more manageable.

This loan is made to students who have entered their grace or repayment period on their loans.

Search for consolidating undergraduate and graduate student loans:

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These types of loans are broken down into two different types: Direct Subsidized and Direct Unsubsidized Loans.

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