I am currently consolidating two student loans. How long til I can apply for more loans?
October 18, 2010 by admin
Filed under Student loans
I’m consolidating two loans, one of which was in default. How long after I consolidate before I’m eligible to apply for more federal loans if I want to go back to school??
You should not consolidate your loans until after you finish taking out all your loans for all your education because you can only consolidate once. If you take out more loans after consolidation, you will end up with more than one payment. . . kinda defeating the purpose of consolidation.
As long as you are not in default on any student loan, you can take out new federal student loans.