I’ll also share my own experience in consolidating my student loans.
There are several reasons why you may want to consolidate your student loans.
I immediately called myfedloan to find out what the problem was.
I was fairly confident it was just a matter of updating their records but given how much money it said I owed them, I was not going to wait around.
But it can be hard to know what the right answer is.
Consolidation is one of those words that conjures images of simplicity, organization, and perhaps even post-clutter serenity.
At this point I could probably dedicate an entire blog entry to the hold music of my various services. After doing everything I possible could to make sure that my consolidation went flawlessly, I was very happy with the initial results.
After less than two weeks, I received a letter saying my loans would be consolidated in 15 days unless I called to stop the process.
In the case of student loans, consolidation means you can deal with fewer creditors, and with paying less interest over the life of your loan. However, before you jump on board, you should know that there are some situations where consolidating student loans may not leave you with post-clutter bliss.
As with everything else in life, there are pros and cons to consider.
Below, let’s take a look at reasons to consolidate and reasons not to consolidate.
This is the last warning because once your student loans are consolidated, there is no “unconsolidation”.
After waiting about two weeks I anxiously logged on to to see the status of my loan.
The past few months I have been consolidating my Federal Student Loans.