student loan payoffs?
so im getting ready to graduate and I have massive student loans…what is the best way to pay these off and keep the payments cheap? they are from different lenders so do i consolidate and refinance? are there are payoff grants for medical personnel? any ideas or tips would be much appreciated! 10 points to the most helpful answer!
Consolidation should be your last resort. If you consolidate, you will not be able to defer your loans if you become unemployed. Speak with each lender and negotiate a payment plan with them. If this becomes a hassle, then consolidate. Just know you cannot defer your loans with consolidation. I recommend the book by Suze Orman called Young, Broke, and Fabulous. She gives great tips and info about student loans. Good luck.
EDIT: Soon as you consolidate and are not able to make a payment, they will harass you and go up on the interest. You will get in deep debt. Suze said in her book that student loans will stay on your credit report until you die. No matter if you go bankrupt. They can ruin your credit, and there isn’t anything you can do until you pay them off. So please do your research and make a payment plan. Your lenders will help you out as much as they can.
