Combining Loans

PLUS Loans can be combined with a consolidation loan to simplify repayment schedules into one monthly payment. Interest rates can be lower and the repayment period can be shortened. Your FFEL or Direct Consolidation Loan can be acquired during your grace period. No credit verification is necessary to apply for a FFEL Plus Consolidation Loan. In order to consolidate you must also have another loan such as Federal Perkins Loan covering tuition fees.

Do The Homework With Your Parents

Take the time to research with your parents all the possibilities, advantages, disadvantages and obligations there are facing Parent Loans. There are responsibilities as a student that you must obey and rights you are entitled to. Make sure you do your ABCs and get all the necessary information about repayments, cancellation, interests and loan deferments. Your parents taught you how to take your first steps, now they are ready to get you on your first journey.

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