Hey all - I’m pretty overloaded on student loan payments right now and was wondering if anyone here has any recommendations on student loan consolidation? Just seeing what my options are or if anyone has every tried to consolidate and has been successful doing so.
Thanks
It was many years ago now, but my husband and I both consolidated our loans after we graduated from graduate school. We consolidated undergrad with graduate school loans then extended the term of payment (I think from 10 to 20 years, OMG) so that we could afford them when we first started paying on them. We did this as a short term solution though, and after about a year of making scheduled payments we radically accelerated payments. We searched for and found jobs where housing was included along with salary so that we had a lot more available spending money, and then worked really hard to live far below our means and pay the student loans off as fast as we could. In the end we paid off the 60,000 or so in loans in about two and a half years. The bank that consolidated the loans for us probably weren’t too happy, but we felt alot more free financially.