Consolidation of your student loans may be the answer to your student loan debt. However, consolidating the wrong type of loan with other student loans can eliminate certain income adjustment repayment plans.
What loans shouldn’t be consolidated?
You should never consolidate private loans with Federal loans or you can lose the rights associated with your Federal loans. It’s also not a good idea to consolidate Perkins loans and Parent PLUS loans with other Federal loans because the Parent PLUS loans will taint the entire consolidation loan process.
A wrong move can limit your options and cost you thousands of dollars over the life of your loan.
Before you decide to consolidate your student loans, contact Tampa Bay area student loan attorney, Nancy Cavey, who can help you make the right decision regardless of where you live in the United States. Call today for a free consultation at 727-828-9955.