Consolidating fafsa student loans

11-Apr-2014 00:01 by 3 Comments

Consolidating fafsa student loans - google in bengolixxx in

My parents credit is not good and they are the only co-signers i have.Ive already completed the fafsa but the money i received is still not enough.

To qualify for a direct consolidation loan, borrowers must have at least one direct loan or Federal Family Education Loan (FFEL) that is in grace, repayment, deferment or default status.If you will also be applying for state financial aid, you will want to check your individuals state deadline.Its important to remember that you will need to complete a FAFSA in each year you are applying for federal aid. Due to this, your financial aid can differ as well depending on the various items that affect your ability to get aid, such as family financial situation, etc.If you have filed taxes but cannot locate them, you can use the IRS Data Retrieval tool.This will be possible when you are completing the FAFSA and get to the section which gives you the option to “View option to link to the IRS”.Loans that are in an in-school status cannot be included in a direct consolidation loan.

The interest rate for consolidation loans is a fixed rate for the life of the loan.To be eligible for federal student aid, you must me a citizen or eligible non-citizen with a valid social security number (some exemptions apply), and have a high school diploma or General Education Development(GED) certificate.You must also be enrolled in an eligible program as a regular student, as well as maintaining satisfactory academic progress while enrolled.You can also visit the IRS website to apply to receive your tax transcripts either online, or through the mail.Once your application is submitted, it will typically take 3-5 days for the department of education to review and submit your application.Before you apply for federal student aid, it will be important to gather all the necessary documentation and information that will be required for your FAFSA.