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student loan question

C

Clocker

Golden Member
i was thinking of consolidating and lowering my interest rates before the interests jump deadline of July 31. but my concern is if i consolidate with a private instituion will the government pay off those loans as opposed to direct loan servicing?

and when i say government paying off loans i am talking about federal programs that will repay a portion of your debt.

is anyone in a simiiar situation or are they going through a similiar situation.

 
when you consolidate, I think you're taking out another loan at a lower rate to pay off the other ones
the only federal program I know of is the LRP that soldiers can get instead of GI Bill
However, I think the consolidation loan also counts as a federal student loan, which means you won't be able to get it wiped through bankruptcy, but you may also qualify for any kind of repayment program that your original loan would have
I'd check with Dept. of Education for info
 
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