When Student Loan Consolidation ISN’T Worth It

I'm on the SAVE plan and im not paying interest. I don't know when or if they'll start interest again. If I consolidate I'm afraid I'll have to start paying interest again. I'm afraid it's a bad deal and I only have a week left to decide, but I don't know what to do. I only owe 10,700 but im a custodian, so i dont make a whole lot. All 4 are federal and fixed rate, below 5%.

This is exactly what I needed. Doing the math, it is clear that I just need to proceed with the payoff. Thank you for your information provided.

* So what happens if this person Consolidates her loans and then doesn't get the one time adjustment? * Seems once you make this big decision and the one time adjustment doesn't work in your favor..your stuck in a bigger problem. Is this really a Government tactic :( ?? * Why is Consolidation so needed to even get considered??

What about Gen X FELP borrowers that Navient steered towards Massive forebareance and their Interest balance is higher than principal and need the IDR adjustment?

I dont understand the time variable. I heard in this video "forgiveness wont happen in 2 years for her". "Forgiveness wont happen in 5 years for him". What determines this these lengths in time? From what I'm hearing its different for different people. And in 2 or 5 years there is a chance that Biden wont be in office so what happens when the next republican decides to renig on all this?

Thanks so much for this video. I just learned about the April 30 deadline late in the day on April 29. The website was so confusing and there seemed to be contradictory information in different parts of the website so I wasn't sure I would qualify for PSLF with the older loans. What I couldn't find anywher e was whether the 4/30 deadline was determined by Eastern time or the time zone where I'm located (PST). Online, it shows that my consolidation application was submitted on 4/30 but the PDF of my applicaition has 5/1 signature. Any idea whether I've missed the 4/30 deadline since it was after 4/30 EST?

Can you kindly advise me on this. My college came up on the predatory loan list and I filled out all of the necessary paperwork and heard nothing else back. DoI do? Thank you

I have several loans, undergrad and grad loans. They're all in various stages of PSLF with some over the 120 mark. I just completed my consolidation application (even though it quadrupled my monthly payment). I hope it was worth it. Do you know how PSLF is going to be affected since I applied before the April 30th timeline with all of my loans having different PSLF count amounts (nine loans between 77 and 125 confirmed payments)?

What if I’m in the ICD Repayment Plan with Nelnet and the loan was transferred to Sloan Servicing and the are recommending me to do the Consolidation and ICDriven. I am single and a senior that has been reapplying for the I C Driven repayment plan over the years with a family of 4. So, I’m no exactly what to do. Should I reapply for the ICDriven plan or Consolidate?

Over the years due to health or surgeries, I did use the forbearance for some months. Does this count as one of the 120 payments?

I’m a victim of predatory online schools, should I consolidate to get the loan forgiveness?

I consolidated in 2012 and have other loans (direct and ffelp) that weren't included. Should I consolidate just those loans or consolidate everything into one? I'm concerned it would increase my rate, but not sure.

FFELP don't qualify so don't consolidate yes?

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Navients interest rates have increased to 7 & 8%.

Hello 🥬 Focus on video editing. It is quite low, edit in good style. Because it is very important in your video.