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Posted: Mon Oct 06, 2008 5:54 pm Subject: student loans question

I just graduated afer 6 years of school. i have so many different loans i really don't know the total amount I owe. I went to two different universities. I think I should consolidate as many loans as possible. do you think that would be my best bet? I graduated with a masters of sceince - physician assistant studies and am starting my first job on Nov 3rd. I probably owe $150,000 I'm guessing. Any insite as to what I should do is most appreciated.

Posted: Mon Oct 06, 2008 6:07 pm Subject:

Are these federal or private loans??? Or a mix??

Do you know where all your loans are???

Posted: Mon Oct 06, 2008 6:10 pm Subject:

I have a mix. Stafford sub and unsub, federal sub. and unsubgrad plus, signature.

Posted: Mon Oct 06, 2008 6:11 pm Subject:

SallieMae and Direct and Firstmark.

Posted: Mon Oct 06, 2008 6:15 pm Subject:

Well all your federal loans which include your staffords and plus loans can be consolidated easily. I always recommend the Direct Loan Consolidation loan program.....they have the easiest term plus public service loan cancellation programs.

Your private loans are another matter. There are not many consolidation loan programs still available for private loans. How much do you owe breaking them down into private vs federal??

Posted: Mon Oct 06, 2008 6:18 pm Subject:

Is the Graduate Plus loan a private or federal loan?

Posted: Mon Oct 06, 2008 6:26 pm Subject:

Grad Plus loans are federal.

Posted: Mon Oct 06, 2008 6:40 pm Subject:

My Firstmark loan is $15,000 private loan right?
The rest of all the federal loans at Nova Southeastern where I got my masters degree is $115,000. I don't know where to look for my undergraduate loans? Do I have to call that college to get that info?

Posted: Mon Oct 06, 2008 6:46 pm Subject:

When should I start the process od consolidating thru the Direct Loan Consolidation program you referred too?

Posted: Mon Oct 06, 2008 7:05 pm Subject:

When did you graduate?? You have a six month grace period after you leave school. The consoldiation can take anywhere from 30-90 days.

Posted: Mon Oct 06, 2008 7:07 pm Subject:

I graduated on August 23rd.

Posted: Mon Oct 06, 2008 7:22 pm Subject:

Can the Perkin loans be consolidated?

Posted: Mon Oct 06, 2008 7:22 pm Subject:

well your loans will become due february. I would suggest starting the paperwork by the beginning of december....with the holidays, the process will be a little slower.

Posted: Mon Oct 06, 2008 7:29 pm Subject:

The Perkin loans can't be consolidated?

Posted: Mon Oct 06, 2008 7:33 pm Subject:

Thank You Soaplady for all of the great information. I really appreciate it Smile

Posted: Mon Oct 06, 2008 7:33 pm Subject:

You never mentioned them. Perkins are federal loans too.

You really need to do some reading. Nobody should have this high a balance without understanding what they owe and how they are going to pay it.