Consolidating school loans tips

28 Jan

Our expert tips and hacks will help you save money, pay off loans sooner and stress less about student loan debt.

Read the other posts in the series here—and get all the info you need to make intelligent decisions about your student loans.

And while you’re at it, check out So Fi’s new Student Loan Debt Navigator tool to assess your student loan repayment options. With prevailing interest rates at historic lows, some private lenders offer rates that are significantly better than a high-rate federal loan.

This is particularly true for grad school borrowers who use unsubsidized Direct loans and Graduate PLUS loans to finance their education.

But if your income is over a certain threshold, you won’t benefit from these programs.

And if you do qualify, but you’re at the high end of the spectrum, your slightly lowered payments may come at a through the refinancing process won’t make sense for every borrower, but it provides great benefits for some.

These are clearly great programs for people who choose careers in public service or education, but if that’s not you, they won’t do you any good.The repayment period of government medical school loans (Perkins and Stafford) is 10 years.The repayment period of a consolidated government loan is 30 years.Loan consolidation is combining all your loans into one big loan.You will have two types of medical school loans: government and private. You can consolidate a government loan with another government loan, a private loan with another private loan.