Friday, August 12, 2011

Have you consolidated your student loans and with who?

I consolidated my loans with AES (they were originally Great Lakes and other companies). I ended up with 2 loans, each with a 10 year repayment term. Basically, all of the subsidized loans get combined into one loan and all of the unsubsidized loans get combined into one loan. Consolidating should get your payments down, but you'll also have options if you still can't afford the payments. I've been unemployed since January 2010. My unemployment usually allows me to make payments, but I've deferred when I needed to and the process for doing so was really simple.

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