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How does a student loan consolidation work?
Asked by unknown
1 Answers
Simplifying your life is a side benefit of consolidation the main reason people do it is to get a fixed lower interest rate so they can pay their debt down faster. The same is true for student loan debt consolidation, except that federal student loans cannot usually be consolidated with other debts.
How much can one get on a student loan?
Asked by unknown
1 Answers
After qualifiying, you can get $5,500 to $12,500 per year in Direct Subsidized and Unsubsidized Loans depending on certain factors (including your year in college). The loan limits vary depending upon if you are an independent student or still claimed as a dependent by your parents.
How long does it take to get a student loan?
Asked by unknown
1 Answers
After loan approval, it can take 2 weeks to 2 months for the lender to send the loan proceeds to the college or to you, as applicable. If the money is sent directly to the college, it typically takes 1-2 weeks before the remaining money is refunded to you.