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You may consolidate with Direct Loans during grace periods, once you have entered repayment, or during periods of deferment or forbearance.
Then there are the private student loan lenders like Wells Fargo that would love to consolidate your loans into yet another private student loan.
is there a way to consolidate these all into one single debt/monthly payment?
Peter Dear Peter, If it was just about government student loans then the answer would be an easy, 'Yes.' There is no charge to consolidate most government student loans into a Direct Consolidation Loan which is then eligible for a monthly payment based on your income.
Consolidation was previously available to borrowers while they were still in school. Congress also eliminated joint consolidation for spouses, effective July 1, 2006.
(see box below), You can consolidate during grace periods.
The good news about these types of loans is that once the student loan is moved into an unsecured loan, it may be fully dischargeable in a future bankruptcy. However there are limitations on the loans they make.
Generally you must have graduated from the program the loans were incurred for and the school must be a Title IV accredited university.And let's not forget that consolidating your private student loans does not mean you'll have a lower payment or pay less.It is quite possible your monthly payment after consolidation may be the same or higher than what you are currently paying.In my book they are among the worst possible types of debt to have.They are not much better than a noose around your neck and for many, their dream careers are scuppered the moment the debt is incurred because they have to find any job and not the kind of job they studied for, just to make the loan payments.Consolidating federal student loans may be a good strategy to lower monthly payments or to get out of default, but it is not always a good idea.