Hey ladies, I am looking into consolidating all my student loans. I owe a whole lot!! I will complete my 2nd masters degree in May. Has anyone consolidated their loans? What are your experiences? I just want to make the right decision.

I just consolidated mine over the summer. Depending on your financial situation they have 4 different repayment programs. When u call & speak to a rep ask them to send u forms telling what each program is & what u qualify for. Me personally i have the income contingent program. Meaning my repayments can be adjusted depending on my income. Right now i'm paying $50/mo. Call customer service, they'll walk you through it.

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Yeah I talked to a rep today and just asked some general questions but before committing I wanted to know what kind of experiences people had with them. I did a google search and read a few horror stories!!

This is exactly how I am doing mine also. Its a very easy program plus it stops you from having high payments and wage or tax garnishments.

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I consolidated my loans years ago. No problems at all. When I started I took a 25 year payment plan; when I started making a lot more, I upgraded to the 10 year program. I'm working on my doctorate now and don't anticipate any problems when I'm done. Good luck!

I consolidated my loans about a year ago. Direct Loans were so helpful with the process, which I thought was easy.

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My initial experience was horrible.... it took nearly a year for them consolidate my undergrad and grad loans from two different schools in two states.

Now that everything is straighten out I just have everything come out of my checking account. I'm under the Income Contingent Repayment Plan and I pay $237 a month.

i thought u wouldnt have to pay back if you are still in school? or are u paying now by choice?

I'm currently in deferment. I occasionally make voluntary payments.

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