conolidation loan

Date: Wed, 04/22/2009 - 14:16

Submitted by anonymous
on Wed, 04/22/2009 - 14:16

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Total Replies: 3

I currently have FFEL consolidation loan dispursed in 2005..I just read info about direct loan consolidation for public service forgiveness...I work pt at my local school and do not qualify b/c of my service hours..Is there any loan that will forgive any portion of a student loan balance for pt service? Should I consolidate into the direct loan programs? Can anyone explain the difference between the two..thank you..

You cannot consolidate into the DL program unless you are pursui

You cannot consolidate into the DL program unless you are pursuing the Public Service Forgiveness program. All the forgiveness/cancellation program I have read about require full time employment hours.

FFELP and DL consolidations are very similar. FFELPs are usually made thru a private lender like Sallie Mae, Citibank or Nelnet. They are guaranteed by a regional or state lender. Direct Loans has the DOE as the guarantor. The loans have exactly the same terms.

lrhall41

Submitted by SOAPLADY on Wed, 04/22/2009 - 14:24

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So do I already have to work full-time to even qualify for a dir

So do I already have to work full-time to even qualify for a direct loan? I was planning on going for the public service cancel, when I got into full-time employment..

lrhall41

Submitted by anonymous on Wed, 04/22/2009 - 14:45

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From my understanding, you have to be job eligible before you c

From my understanding, you have to be job eligible before you can apply to reconsolidate with DL. But call them and ask.

lrhall41

Submitted by SOAPLADY on Wed, 04/22/2009 - 15:52

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