Consolidating federal grad plus loans


For many working adults, especially those with families and other financial responsibilities like homes and cars, student loan consolidation could be a godsend.If you decide that consolidation is the best route for you to go, the best advice is to first consult one of your lenders for guidance and a good consolidation plan.Undergraduates that migrated directly into a grad school program would never have become eligible to begin repayment of their undergraduate student loans. Undergrads that took time away from college and started a career and/or family before they went back for a graduate degree might have been interrupted in their student loan repayment.These borrowers have undergraduate loans probably suspended in deferment, and new graduate loans in addition. Depending on your financial circumstances and success in getting a job directly after graduation, you may wish to consider total loan consolidation.If you are like many other students, you may have gotten a private loan to finance the remainder of outstanding college tuition at the graduate level once your federal loans were expended.Or you may have borrowed from the popular crop of lenders offering specialty-specific graduate loans that target the more costly college programs, such as law school, medical school, and business school.

Luckily, consolidation is an option that can make this a reality.

Advanced degrees often come bundled with advanced levels of student loan debt.

Students may be tempted to stay in school beyond their undergraduate degree as a way to keep from paying off their first student loans, but the debt keeps growing as their education continues.

Would you rather budget and save and pay your loans off as fast as possible, no matter what?

Or would you rather pay what you can now, and keep paying smaller amounts until everything is taken care of?

But if you are like most grad students, you have been in school for many years and have little real world experience.

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