Consolidating private student loan debt

This comprehensive guide to student loan forgiveness is your first step to improving your financial situation.

Student Loan Forgiveness programs offer a variety of different forgiveness levels and payment timelines.

The minimum monthly payment on a consolidation loan may be lower than the combined payments charged on a borrower’s Federal education loans.

All federal and private student loans are considered unsecured debt.

Most loans can be discharged in the following situations: "Circumstances beyond the borrower's control" do not include things like having to drop out of college before graduation or inability to find a job after graduation.

However, there is a possibility that they could include a school using illegal recruiting tactics – for example, guaranteeing the student a well-paid career. Department of Education promised debt relief to students of the bankrupt for-profit Corinthian Colleges schools (click here for more information on how to apply).

Our team at Student Loan Hero works hard to find and recommend products and services that we believe are of high quality and will make a positive impact in your life.

The Financial meaning of the term: Taking Multiple debt or credit lines and consolidating them into one new payoff plan.

Frequently, this is a consolidation loan, provided to consolidate debts into one loan with one payment.

Let's look at various options for dealing with student debt: discharge, forgiveness, repayment, debt consolidation – and finally, the worst that can happen if you simply don’t pay.

For a federal education loan to be discharged, there must be circumstances beyond the borrower’s control that prohibit repayment.

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