My sister racked up almost 100K of student loan debt through 8 different loan companies. Her credit score is tanking because she can't afford the minimum monthly payments on all the different loans. I feel like loan consolidation is the best bet and she tried through SoFi but was denied. I'm unsure how to help her and her credit is tanking. Any ideas would be awesome.
Loan Consolidation Help
byu/Usual_Journalist4742 inStudentLoans
Posted by Usual_Journalist4742
1 Comment
Need more info. One, are they all private loans or are federal included? Federal loans have more protections and forgiveness options than private. So generally DON’T consolidate federal into private. Generally private loans can be refinanced. When people talk about consolidating, it usually refers to federal loans. That’s a different process.