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Need advice!!!!!

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icyhot
Valued Contributor

Need advice!!!!!

New to the student loans board and don't know much about what's gonna happen once I graduate. I may have about $120K of loans after graduation in May, this includes undergrad and grad school, and I'm a teacher so I will be eligible for the loan cancellation after 10 years. They are all serviced by Nelnet. What can I do before I start paying to get the loan balance/payments down? Right now it's several different loans with different payments
Ch 7 BK discharged 12/2018
Bank Cards: NFCU Flagship Rewards $25K | NFCU Cash Rewards $20K |NFCU More Rewards Amex $17K | PenFed Power Cash $12.5K | PenFed Platinum Rewards $12.5K | PenFed Pathfinder Rewards $10K | PenFed Gold Card $7.5K | PayPal Cashback Mastercard $5K | Apple Card $3.5K
Store Cards: Bergdorf Goodman $10.5K | Neiman Marcus $7.5K | Care Credit $7K |
Scores: EX 656 | EQ 667 | TU 680


Goal Card: Amex Platinum (Amex IIB, waiting for 5 year mark)
Message 1 of 3
2 REPLIES 2
SCF
Valued Contributor

Re: Need advice!!!!!

Before you graduate you should take a complete inventory of your student loans.  Make sure you know what you owe, what type of loan it is (unsubsidized, subsidized, PLUS, federal vs. private), and who holds the debt.  Register for online accounts with all your loan servicers and make sure to keep your contact information updated so they can reach you if they need information or a problem arises.

 

You can make payments on your loans at any time, even before they enter repayment.  And you may want to pay off some of the outstanding interest before it capitalizes into the balance of your loan if you can.

 

You still have access to your school's financial aid office, so ask them for any resources they have on loan repayment and forgiveness programs.  You should also have to complete exit counseling soon - pay attention to that resource as well.

Message 2 of 3
icyhot
Valued Contributor

Re: Need advice!!!!!

Ok thanks, they're all federal under the same servicer, that much I do know, I'm just really wondering if consolidation is a good avenue before I start repayment and what's a legitimate consolidation service
Ch 7 BK discharged 12/2018
Bank Cards: NFCU Flagship Rewards $25K | NFCU Cash Rewards $20K |NFCU More Rewards Amex $17K | PenFed Power Cash $12.5K | PenFed Platinum Rewards $12.5K | PenFed Pathfinder Rewards $10K | PenFed Gold Card $7.5K | PayPal Cashback Mastercard $5K | Apple Card $3.5K
Store Cards: Bergdorf Goodman $10.5K | Neiman Marcus $7.5K | Care Credit $7K |
Scores: EX 656 | EQ 667 | TU 680


Goal Card: Amex Platinum (Amex IIB, waiting for 5 year mark)
Message 3 of 3
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