I need help consolidating my student loans

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If you consolidate parent PLUS loans with other direct federal student loans into a Federal Direct Consolidation Loan, the only income-driven repayment (IDR) program that loan will be eligible for is income-contingent repayment (ICR), the least generous of all IDR plans.

You will not be eligible to enroll in PAYE, REPAYE or IBR to repay a federal direct consolidation loan that includes a parent PLUS loan.

Federal student loan borrowers have the option of consolidating their loans via the Direct Consolidation Loan program offered by the U. That loan is then serviced by the servicer of your choosing – of which Nelnet is one!

Consolidating allows you to merge multiple eligible loans into a single loan.

Student loans are tough, and they present borrowers with heavy debt burdens after college.

But while there are a growing number of options available to consumers, most student loan forgiveness programs and other repayment plans are only available to those with federal student loans.

We recommend the lenders above because we thoroughly evaluated them. Can I consolidate private and federal loans together? You can also extend the term of your loan, at the same interest rate.

Consolidating your federal loans will give you the opportunity to consolidate multiple loans into one (lower) monthly payment, and also let you choose a new repayment term and repayment plan.

So if you feel like your interest rate is too high, refinancing could help.

This process will also combine all the loans you refinance into one convenient payment.

Borrowers who are having difficulty with private student loans, from lenders like Sallie Mae and others, have fewer options.

Today we are going to take a look at the programs available to private student loan borrowers.

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