The biggest blight on my life right now is my student loans. They are currently serviced by 3 different companies/organizations, one of which is fedloan. I was supposed to be eligible for PSLF but after transferring ~$70k of debt over, the numbers didn't work out. Husband makes too much for it to even matter at that point, we'd be saving like...$1000, maybe. So now the goal is just pay that shit off faster. The interest and amount of my other two loans is negligible, it's the fedloan amount that's really the problem as the original plan to pay it off didn't work out.
The interest on these loans is so goddamn high that I barely touch my principle. fedloan currently holds 11 loans ranging from $2k to $17k with interest rates between 3.15 and 6.55. Most lean towards 5-6.55. Trying to manage the payment of 11 loans to ensure each is being paid off appropriately is a nightmare. So now I'm thinking I should consolidate.
I had discussed the option with our bank but they seemed confused about whether it could be done now that I'm in PSLF. But fedloan offers consolidation options as well. I don't know enough about this to feel confident just doing it without researching it though. Who should be the one to handle the consolidation (fedloan, a bank, someone else?)? Is it true that because I'm in PSLF - to no benefit - that our bank can't do it or did I just confuse them (we were doing a lot that day)? Should I just step through fedloan's option? Will I get a chance to say no if I apply and don't like the results? What should I watch out for? I had tried to reach out to fedloan regarding PSFL and as far as I'm aware, they never replied so I have 0 faith in them replying now.
Sorry to throw so much out there, this is the one financial aspect of my life that I haven't gotten under control and the amount is so large that I'm afraid to fuck this up.
Submitted June 28, 2018 at 12:37PM by loanssuck88 https://ift.tt/2Mqz5tG
