Ibr after consolidating
Both of them were going down a scary path with not very reputable student loan consolidation companies.
In fact, one company was simply a student loan scam. If you want to pay for help, that’s fine too – there are companies that can help you.
Repayment begins the day after the grace period ends — that’s when interest on the loan begins to accrue.
Your first payment is due 60 days after the end of the grace period.
Your monthly payment adjusts annually and you must submit documentation to remain in the IBR program. For some recent borrowers, the Pay as You Earn program may offer an even lower monthly payment. There may be other resources that also serve your needs.
Repayment requirements differ depending on the type of loan in question.
Income-driven repayment plans can help borrowers keep their loan payments affordable with payment caps based on their income and family size.
IBR will also forgive remaining debt, if any, after 25 years of qualifying payments.
Then, there is the problem of student loan debt on top of it.
Check out these stories: Needless to say, student loan debt consolidation is high on borrower's minds, and there is definitely a right way and a wrong way to go about doing it. Remember, scammers (and even sometimes legitimate companies) take advantage of people when they are struggling the most.