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Why can't a borrower consolidate private student loans and Federal Stafford loans together?
Wiki User
∙ 15y ago
First I am not positive that you cannot do such. If that does hold true it could be due to a variety of details including: - interest rates for Federal loans are set by law and are standard across the board. The financial institution you have your private loans through could vary - payment terms may also verify between the two Private loans are secured by an individual's credit worthiness or his cosigner's. Federally back loan are secured by The united States Department Of Education. Loan amounts vary depending on each student needs, the cost to attend and ability to pay back. You will never be able to consolidate federally backed and private loans with a federally back consolidation loan. However, you will be able to combine them all with a private consolidation loan.
Wiki User
∙ 15y ago
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Can you consolidate Private student loans into federal student loans?
no. you will have to consolidate separately. with a federal lender then a private lender.
Do federal Stafford loans have to be paid back?
Yes, you need to pay back federal Stafford loans.
Does home foreclosure effect your ability to get a federal stafford loan?
No, it does not
Where can one consolidate their Federal Student Loans?
One can consolidate their Federal Student Loans from the following sources: Debt Free Direct, Consolidation Loan Centre, Student Aid, Loan Consolidation, Fin Aid.
Who sponsored stafford loans?
The federal government
Looking for federal student loan consolidation sites.?
You can find a federal student loan site at loanconsolidation.ed.gov. They have the application and forms needed to consolidate your loans. Under this program, a borrower's loans are paid off and a new consolidation loan is created.
Can you consolidate Private student loans into federal student loans?
no. you will have to consolidate separately. with a federal lender then a private lender.
Do federal Stafford loans have to be paid back?
Yes, you need to pay back federal Stafford loans.
Where should I apply for a fixed rate student loan?
Federal Stafford loans are fixed-rate student loans for undergraduate and graduate students attending college at least half-time. Stafford loans are the most common and one of the lowest-cost ways to pay for school. After graduation, be sure to remember your federal student loans. Think about your Stafford loan repayment options. When you consolidate your Stafford loans, you are locking in today's low rates and combining multiple Stafford loan payments into one lower monthly payment. Teachers, counselors and other public service professionals may qualify for Stafford Loan forgiveness programs.
Who sponsors Stafford loans?
the federal government
Do you need to pay federal Stafford loan?
yes
Does home foreclosure effect your ability to get a federal stafford loan?
No, it does not
Where can one consolidate their Federal Student Loans?
One can consolidate their Federal Student Loans from the following sources: Debt Free Direct, Consolidation Loan Centre, Student Aid, Loan Consolidation, Fin Aid.
Who sponsored stafford loans?
The federal government
How much will you get from federal loans for college?
Federal Stafford loans are fixed-rate student loans for undergraduate and graduate students attending college at least half-time. Stafford loans are the alternative vis private banks
How can one get a consolidation student loan?
"There are several ways one can get a consolidation loan. In the United States, there is a Federal student loan consolidation program that allows students to consolidate Stafford loans, PLUS loans, and Federal Perkins Loans into a single debt. One can also attain a consolidation loan through a private lender. However, the terms vary from lender to lender such as forbearances and deferments."
How can one consolidate federal student loans?
The best way to consolidate student loans is to talk to a local credit union or bank. Large national banks tend to have higher rates and the government is going to increase rates of federal loans as well.
