Consolidating plus loans
As you weigh the pros and cons, keep in mind that timing is critical.With just a few exceptions, you get only one chance to consolidate with the government loan programs.
Mark Dear Mark, I'd first look at the Federal Direct Consolidation Loan program. As far as interest rates go, the interest rate for a Direct Consolidation Loan is fixed for the life of the Direct Consolidation Loan.
Both Federal PLUS and Direct PLUS loans are eligible to be included as well as the traditional Parent Loans for Undergraduate Students (PLUS). The rate is based on the weighted average interest rate of the loans being consolidated, rounded to the next nearest higher one-eighth of one percent and can not exceed 8.25 percent.
Both old PLUS loans made under the now-defunct Federal Family Education Loan (FFEL) program and new Direct PLUS loans made either to graduate and professional students or to parents of dependent undergraduates are eligible for inclusion in a federal Direct Consolidation Loan.
But the Direct Consolidation Loan isn’t limited to PLUS loans.
No wonder we've been trusted to fund over $20 billion in loans to date.
I'm a firm believer that parents should NOT be taking out loans to pay for their children's' education.Direct consolidation loans are now the only type of federal student consolidation loan.Under the Direct Loan Consolidation Program, you can consolidate Subsidized and Unsubsidized Stafford Loans, Supplemental Loans for Students (SLSs), Federally Insured Student Loans (FISLs), PLUS Loans, Direct Loans, Perkins Loans, Health Education Assistance Loans (HEALs), and just about any other type of federal student loan.However, there are still options available to lower your student loan payments.In loan consolidation, your existing student loans are paid off and replaced by a new, large loan combining all those amounts. You can consolidate all, just some, or even just one of your student loans.Tags: Adult Dating, affair dating, sex dating