Us department education consolidating loans
If you choose to consolidate your student loans, you can apply for a Direct Consolidation Loan through Student
A recent Federal Reserve report found that 20 percent of the drop in homeownership among 24- to 32-year-olds between 20 was due to an increase in student loan debt.
Choosing one could make your payments much more affordable.
Any remaining debt after 20 or 25 years of on-time payments toward an income-driven plan will be forgiven, though you'll pay tax on that amount.
Here's how to decide whether refinancing or consolidating your student loans could make your finances more manageable.
There are two methods for combining several student loans into one: federal consolidation and private consolidation, which is also known as refinancing.