Why can't I consolidate private and federal student loans into one loan?
Let’s learn why can't I consolidate private and federal student loans into one loan. The most accurate or helpful solution is served by sofi.com.
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Best solution
One of the biggest student loan myths out there is that borrowers can’t consolidate federal student loans and private student loans into one loan.
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Hi, my wife and I are fixing to graduate from college this coming May. The big issue we face of course is that all of our student loans are going to begin coming out of deferment. We want to, if it's at all possible, consolidate all of these loans, including...
Answer:
NO. You can not combine two peoples student loans like this. Only thing you can do is, you two can go...
trh2000_... at Yahoo! Answers Mark as irrelevant Undo
I have 3 student loans - all Federal and with the same interest rate, but with varying balances - and am planning to pay all of them off (early) over the next 2 years. I will continue to make regular payments on all student loans. In terms of minimizing...
Answer:
You could apply the debt snowball method to your student loans. The snowball method calls for paying...
Alison Baker at Quora Mark as irrelevant Undo
Two part question really: 1)I have a student loan in my name which I am paying off. Also my parents took a loan for my education which they are paying off but I am paying them each month for the monthly payment amount. Can I put their loan in my name...
Answer:
You can neither consolidate nor change the name on their loan. The only way to do what you want would...
sqrly at Yahoo! Answers Mark as irrelevant Undo
I have $80K in federal student loans with an average 7.5% APR and want to refinance them to variable-interest private loans (usually indexed to +/- 0.50% prime). Federal consolidation actually makes loans MORE expensive, and so far companies are not...
Answer:
There are no prepayment penalties on federal education loans. So the only thing preventing a refinance...
Mark Kantrowitz at Quora Mark as irrelevant Undo
I get a lot of mailers from different places that look like legitimate student loan lenders but I'm not sure which ones to trust.
Answer:
I am assuming these are federal student loans. Federal student loans (stafford, plus, etc) have to be...
Sophiesm... at Yahoo! Answers Mark as irrelevant Undo
One is a Private under my name. One is a Parent Plus loan under my dad's name. One is a normal Federal Loan under my Father-in-law's name.
Answer:
Unfortunately, you can not consolidate private loans. And, it's possible that you can not consolidate...
TD6BACQI54VN7LQAVLXXTP4DUM at Yahoo! Answers Mark as irrelevant Undo
I have a bunch of small loans ( auto, credit cards, etc) and it's really annoying keeping track of. Would it be a good idea to apply for a perosnal loan, payoff all my little loans and just have one bill a month instead of 5 that are due at all different...
Answer:
Depends on what your intentions are going to be. Are you trying to prolong your debt? or trying to pay...
woodwork... at Yahoo! Answers Mark as irrelevant Undo
OK....I don't want use the actual company names so I will use Bob, Pete, and Joe as my company names. I have students from three companies-Bob, Pete, and Joe. Can I consolidate all of my loans from those three companies and just make one payment per...
Answer:
If all your loans are federal loans, then yes. You can consolidate them. If you have both private and...
BT at Yahoo! Answers Mark as irrelevant Undo
I have 18,000 in student loans and only have 6 months until I start making payments on them. Most of them started out at 2.50% interest and are now at 6.0%. 6,000 of the debt is at ...show more
Answer:
Yes, typically it's to your advantage to consolidate. Sallie Mae has a good FAQ that tells you the advantages...
VLVR7NDSZSLRKLVJDHKI2XMHQE at Yahoo! Answers Mark as irrelevant Undo
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