If the requirements above sound good, we think that you are a great applicant for student loan refinancing and consolidation.Each lender has its own specific underwriting criteria, so you may have a higher chance of approval at certain lenders.There are many different benefits and drawbacks of what each student loan consolidation and refinancing lender offers, and it is important to be aware of all of them.
What this means is that Parent PLUS Loan borrowers who consolidate those loans into Federal Direct (as we say in the South) earn Public Service Loan Forgiveness, if they owed “enough”, didn’t earn “too much”, and met all the requirements.
A couple of special notes of caution for parents with student loans: Finally, Parent PLUS and Grad PLUS student loans are different.
With an average balance of ,400, student debt is a big part of the average college graduate's life.
At Lend EDU, we help borrowers compare the top student loan companies in one place.
Instantly view loan options from ,000 to 0,000 using our student loan refinance comparison tool.
Easily select your loan type, educational level, and loan amount to compare loan companies that meet your selected criteria.
Amendments were made to the PLUS Master Promissory Note in an addendum to accommodate the changes in eligibility as well as the new fixed rate structure.
For PLUS loans made to parents that are first disbursed on or after July 1, 2008, the borrower has the option of beginning repayment on the PLUS loan either 60 days after the loan is fully disbursed or wait until six months after the dependent student on whose behalf the parent borrowed ceases to be enrolled on at least a half-time basis.
If you have one or more federal loans, you may consolidate them through the Federal Direct Consolidation Loan Program.
There are advantages and disadvantages to loan consolidation, so consider your options carefully.
These options are flexible to meet the different and changing needs of borrowers.