Consolidating loan private school


12-May-2015 13:39

Learn more about federal student loans Private loans, also referred to as alternative education loans, are backed by private lenders, while federal loans are backed by the U. The first part of your plan is providing a snapshot of your overall financial picture to a trusted partner of

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Prior to July 1, 2006, students could consolidate their public loans while they were enrolled in school full time. Students can either consolidate during the six-month grace period after graduation or wait until after the loan enters the repayment phase.

Even if your student loans don’t strain your wallet, consolidating them into one payment could free up additional cash, or help to structure payback of your loans on your terms.

Consolidated public loans under the federal government program are considered paid in full by the new loan.

The program was created to encourage educational pursuits by making otherwise unmanageable public loans practical for repayment and in a timely fashion.

There are two primary types of educational loans — private and federal.

While both may be eligible for consolidation, it is important to think of these two types independent of each other when considering consolidation.