If you are consolidating federal student loans, consolidate into a Federal Consolidation Loan. If you consolidate federal loans through a private service, they are not eligible for relief under the Student Loan Forgiveness Act, or for any currently available relief.

Can you get loan forgiveness after consolidation?

Consolidation can lower your monthly payment by giving you a longer period of time (up to 30 years) to repay your loans. If you consolidate loans other than Direct Loans, consolidation may give you access to additional income-driven repayment plan options and Public Service Loan Forgiveness (PSLF).

Where can I get forgiveness for my student loans?

Student loan forgiveness can come from the federal government, the state government or a private organization. Federal loan forgiveness programs are typically available to professionals who work in public service organizations or high-need areas.

Is there a way to consolidate student loans?

To help students combine their loans into one, there is a service such as consolidating student loans. It allows the borrower to make one monthly payment, which is usually less than payments on several loans. Read on to learn how to consolidate your loans and pay off debts. Let’s start from the beginning! What is student debt consolidation?

How can I get rid of my federal student loan servicer?

There are only two ways to get rid of your servicer or switch to a different one yourself. Consolidate your federal loans with a Direct Consolidation Loan or refinance your federal student loans with private loans. We’ll talk more about these options below.

Which is the best company to refinance a student loan?

You can choose to refinance private or federal student loans. To refinance student loans with slightly lower credit, try LendKey. The average borrower’s credit score is 680, indicating a little more flexibility than some of the other lenders we’ve discussed.