Consolidating subsidized and unsubsidized student loans
I will be moving from California to Nevada for this job too.
I would like your advice since I went back to college am 40yrs old now that I finished college.
Consolidating your federal loans through the Department of Education is free; steer clear of companies that charge fees to consolidate them for you.
When you consolidate federal loans, your new fixed interest rate will be the weighted average of your previous rates, rounded up to the next ⅛ of 1%.
Your repayment term will generally start within 60 days of when your consolidation loan is first disbursed and will be based on your total federal student loan balance, among other factors; click on the link below for more details.
[Back to top] Applying for consolidation takes most borrowers less than 30 minutes, according to the Federal Student Aid website.
The good news is I just got hired by a company in my field, but won't start work till the first week in December, and my first check isn't till the 15th of December (when the first loan payment will be sent to me).
What if you have the ability to pay off your loans earlier and can keep track of multiple lenders on your own?
Consolidation does not stop you from paying off your loan early or sending in extra money to reduce your loan balance.
So, for instance: If the average comes to 6.15%, your new interest rate will be 6.25%.
Additionally, you’ll get a new loan term ranging from 10 to 30 years.