My school cannot give me a clear answer. The bureaucracy is pathetic.
Does anyone know of the term limit/options for a consolidated loan?
There are limits, but most loans are so large that they do not have to consider them. My school is so used to "helping" with massive loans that they have no experience with this issue. Clearly.
If your loan is low (something like under 20k) then you MUST take a 10 yr term...etc..
..And as your loan grows, so does the term option.
My school said 25 years is the longest loan possible. I am unsure about that too.
I am trying to pin down the exact rules/options for TERMS-- based on the amount borrowed.
To keep it simple: Assume Stafford and Grad Plus only, then consolidated after graduation.
Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
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Skip the school, go straight to the source of your loan. You'll find answers here: