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When to consolidate?

Started by TwoKiwis, September 12, 2016, 06:49:10 pm

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TwoKiwis

Hello,
At what point should we consolidate our student loans? Do we need someone to do it for us?
I have
Plus Loans
FFELP
DLG Plus
DLSUB
DLUNSUB

Can all of these be consolidated into one loan payment? Are they all eligible for the IBR plan and SLFP?

Thank you.

TheCollegeInvestor

September 12, 2016, 08:21:48 pm #1 Last Edit: November 06, 2018, 07:26:40 am by AndreaT
You can consolidate whenever you want- it's a convenience thing only. You don't need anyone to do it for you - just go online to StudentLoans.gov.

Here's a breakdown of how to do it: https://thecollegeinvestor.com/11616/consolidate-your-student-loans/

Also, NEVER consolidate your PLUS loans - always keep them separate. If you keep them separate, you can qualify for IBR and PSLF. If you add in the PLUS loans into the consolidation loan, you cannot.