Resultsbee.com

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.

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.

Private Student Loan Consolidation. Private student loans cannot, in general, be consolidated with federal student loans. The low interest rates on federal consolidation loans are not available to private education loans. So the main benefit of such a consolidation is obtaining a single monthly payment.

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.

If you are an undergraduate student: Up to $5,500 per year  depending on your financial need, the amount of other aid you receive, and the availability of funds at your college or career school.

Loans are available for the unemployed but they usually have high interest rates and you need to think very carefully before committing to more debt if you're out of work. Read our article on loans for unemployed people for more guidance and information on things to consider.