Asking for a friend:
Current 3rd year fellow, looking to do 1 more year advanced fellowship before starting real job. Roughly $250,000 in debt to multiple loan servicing companies at different rates (Navient, Discover, AES, Sallie Mae). Still trying to figure out rates at all the different places but the biggest is Navient (180,000 at 4.75%). Question is: when is a good time to consolidate loans? Currently in forbearance, at all places. Cannot afford any payments due to multiple issues (cost of living and child support). Would it be best to consolidate now? Or wait till he has a job after fellowship next year? Can you consolidate your loans and then have them still be in forbearance? Thanks so much! Trying to help tackle the problem!
Current 3rd year fellow, looking to do 1 more year advanced fellowship before starting real job. Roughly $250,000 in debt to multiple loan servicing companies at different rates (Navient, Discover, AES, Sallie Mae). Still trying to figure out rates at all the different places but the biggest is Navient (180,000 at 4.75%). Question is: when is a good time to consolidate loans? Currently in forbearance, at all places. Cannot afford any payments due to multiple issues (cost of living and child support). Would it be best to consolidate now? Or wait till he has a job after fellowship next year? Can you consolidate your loans and then have them still be in forbearance? Thanks so much! Trying to help tackle the problem!
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