Consolidating student loans perkins
Not everyone is a good candidate for private student loan refinancing.Federal loan consolidation doesn’t have a credit requirement, and it offers the benefit of a single loan bill and potentially lower payments.If you have private loans only, or you don’t plan to take advantage of those federal protections, compare refinance lenders to get the lowest possible rate.Strongly consider lenders that offer the most flexibility on payments and multiple options for forbearance.It's important to understand and carefully consider all factors before consolidating.Learn more about Direct Consolidation Loans on the Federal Student Aid site Apply now at Student Private student loans are NOT eligible for consolidation into a Direct Consolidation Loan.
Loan consolidation can be helpful for borrowers who want to combine their eligible federal student loans into a single Direct Consolidation Loan.
Because Perkins loans are available only for the financially neediest students, these loans have the most opportunities for loan forgiveness.
If you fit the criteria for loan forgiveness, all or part of your debt is cleared.
But unlike the federal government, they can consolidate both federal and private loans.
The goal with this process is not only to get the ease of a single payment, but to receive a lower interest rate based on your financial history.