Student Loan Help PLEASE

[Anonymous]

Alright.

I'm really lost about what to do next.

I have MULTIPLE student loans out. I'm not currently enrolled in school and don't plan to be ever again.

I'm also currently behind in a few of my loans and the others have either been PIF or are still in grace.

So the question I have is would it be better to consolidate all of these (would it include the ones in grace?.) or pay them until they are recent and then consolidateL?

thanks you very much and any help is appreciated!

[Anonymous]

You'll probably get much better advice from other folks, but my recollection is that consolidating my student loans brought the monthly payment down substantially.  YMMV.  There are several excellent student loan repayment programs out there - it looks like you're working with them if you have loans currently "in grace."  Have you spoken with them about your options in consolidating? 

[Tazman81]

If you have federal student loans that are current in default (behind on payments) then you should not consolidate yet.  You should contact the lender that holds your loan and speak with them about a loan rehabilitation program.  That way you can get the bad marks removed from your credit report.  Normally the loan rehabilitation program is about 9-12months long of having on time payments, but you actually have to speak with them about their stipulations.  Afterwards, then yes, feel free to go ahead and consolidate.

Or if your only concern right now is getting a lower payment, then you can go ahead and consolidate.  It's just that once you consolidate, you cannot do a rehabilitation program on the loans that are in default.  Also, you cannot consolidate loans that are currently still in the "in school" grace period.  You have to wait until your grace period is over.