Home  |  Careers & Education  |  College & Graduate  | 

Student Loan Consolidation

Are all student loans eligible for consolidation?

To properly view this site, javascript must be enabled and Flash version 9 or higher must be installed.
Get the latest Flash player

View Comments (Add Comment)

  • Scholarshiper Flag

    Scholarship-Listings.com
    Scholarship-Listings.com offers great free scholarships that college students can apply for. Check it out!

Justin Draeger
Spokesperson, National Association of Student Financial Aid Administrators
www.nasfaa.org  

Justin Draeger is Assistant Director for Communications with the National Association of Student Financial Aid Administrators (NASFAA). Prior to joining NASFAA, Justin worked as the lead analyst for the Michigan Guaranty Agency. Justin began his career in student aid 10 years ago working as the financial aid administrator for the Douglas J Aveda Institute in East Lansing, Michigan. Justin earned a Bachelor’s of Science Degree in Resource Management from Brigham Young University and his MBA in Finance from Baker College. He has presented at several conferences in both the financial aid and business management fields and continues to publish nationally. Justin has been tapped for his expertise on student financing by CNBC, Fox Business News, The New York Times, Wall Street Journal, Boston Globe, Kiplinger, Business Week, National Public Radio, and more.

Are all student loans eligible for consolidation?

 

This expert: 89,720 views

This series: 7,902 views

Download - Coming Soon!
Tags:

Loans

,

Loan

,

Debt

,

Student

,

College

,

Tuition

,

Credit

,

Interest

Comments:

1 (Read Comments) (Add Comment)

Print

Transcripts

Host: Are all student loans eligible for consolidation?

Justin Draeger: All federal student loans can be consolidated and to federal consolidation loan, if you only have one single federal student loan that can be consolidated into a federal consolidation loan to get a fixed interest rate for example. What you cant do is take private student loans and federal student loans and combine those into a single federal consolidation loan. The other thing that you may not want to do is you might not want to combine all of your federal student loans into a single consolidation. If you have loans of multiple lenders and some of those loans have great borrower benefits that you dont want to lose, you can consolidate just a few of your loans into a federal consolidation and keep others outside of that consolidation loan. Generally if you consolidate with a private lender they require a minimum balance to consolidate usually they are on 7,500 if you consolidate with US Department of Education, they will consolidate any amount with you.

Other Videos

  • How do I know if running for office is right for me?

    How do I know if running for office is right for me?

    In this video, expert Ron Faucheux shares his tips and techniques on how to run for office.
  • Do you recommend that students and familes attend college fairs?

    Do you recommend that students and familes attend ...

    This video discusses the steps a high school student should take to begin the process for identifying the right choices and applying to college. It will provide you with both facts and expert opinion on various aspects of the college selection and admission process. There are suggestions on how to plan and strategize for gaining admittance to college. In addition, it will highlight different aspects of the process and breaks each down to a specific segment like standardized tests, college essays, financial aid, etc. to name just a few. We will offer suggestions on how to get started, remain on schedule and finally how to make the best choice for college. This video will provide every student and parent with the necessary insight as to how to begin and best move forward with the college process.
  • How do I find out what a job pays?

    How do I find out what a job pays?

  • Get a Direct Line

    Get a Direct Line

  • What level of math is covered on the GMAT?

    What level of math is covered on the GMAT?

    Up your chances of getting into business school with these tips for GMAT preparation.
  • How to Run for Office

    How to Run for Office

    In this video, author and lecturer Ron Faucheux discusses the considerations and planning necessary to run for elected office.