What Are Federally Funded Consolidation Loans?
Federally funded consolidation loans are only for student debt. When you already have a bunch of financing from the government for school and it’s come time for you to start making payments, you can contact them about getting a student debt consolidation loan. This will make it so you only have one payment to make each month and gives you the opportunity to talk to them about how much you can afford to pay each month and make sure you have everything straightened up. Sadly, you cannot consolidate your private student loans that you’ve gotten from banks with your federal financing.
