Student loans

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Did you consolidate yours? I'm so confused about the different options & my school is no help. I'm a new grad and I already have my first job. I have loans through sallie Mae & loans through the federal government that I got through my school

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Specializes in Peds, Float, Ambulatory, Telemetry (new).

Ditto!!! I didn't consolidate them though. Nor have I put much energy in finding out about consolidating them. But if you can do that then do it. I know Sallie Mae is weird about how they handle their loans though.

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Specializes in Critical Care, Education.

Consolidate & lock in a low interest rate while you still can. The legislature is currently trying to wrestle back a proposed rate hike, but this may not happen. You may also want to explore income based repayment if your loan payments are high.

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Specializes in School Nursing, Public Health Nurse.

I didn't consolidate. All my loans are federal and I talked to them about lowering my payments without increasing my 10 years. I forgot what they called it but they just rearranged my payment amounts. My normal rate is about $500/month. They lowered it to $260/month for three years, then $380 for a few more years, etc, to the final few years of $800/month. I do have the option to go back to my regular payment plan, which I will do in the fall when I will be making more money. It's a great option to lower your payments at first considering how hard it is to get a new grad job and some hospitals are only offering new grads the bare minimum to get started.

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