| Are you getting close to graduation or maybe you | | | | you will want to wait until you finish again to learn |
| have already graduated and the student loan | | | | how to consolidate student loans. |
| payments are nearing? Do you want to know how | | | | 2. Find a good lender to use for consolidation |
| to consolidate student loans and make life much | | | | One of the most important parts of learning how to |
| easier on yourself? Here are the steps to | | | | consolidate student loans is to use a lender that will |
| consolidation and some of your other options so that | | | | fit your needs. They need to have an interest rate |
| you can make sure you manage your loans properly. | | | | that is comparable to what you have now and will |
| 1. Make sure you are done with school | | | | help you keep your payment lower. They also need |
| You only get one shot to consolidate, in most cases, | | | | to be able to put all of your loans into one with a |
| so make sure you are not planning to go back to | | | | payment that is lower than if you payed them all |
| school for at least 5 years. If you have plans to go | | | | separately. |
| back to school even if it will just be part time, then | | | | 3. Consolidate and pay the loans off |
| you do not want to consolidate your loans just yet. | | | | Now all you have to do is fill out the proper |
| You will want to use what is called a deferment for | | | | paperwork and get your loans put together. Then, |
| up to 2 years while you make this decision. This will | | | | just continually make your monthly payments on time |
| allow you to still pay on your loans if you want, but | | | | and if you cannot use the deferment or forbearance |
| you will not be required to. The reason you want to | | | | options to pause your payments and protect your |
| do this is because as soon as you go back to school | | | | credit. |
| your loans go back into an educational deferment and | | | | |