Not sure if consolidation or applying for Public Service Loan Forgiveness is best for me. I feel like I haven't been getting answers from loan companies (Navient, FedLoan). Looking for advice that is best for me and not the companies.
Hopefully, we can help you out, Stephen! Consolidation and PSLF aren't necessarily an either/or decision. However, one can impact the other.
If you've been paying your loans for a while, and they're PSLF-eligible, consolidating them will eliminate all those eligible payments. That is, you'll have to make 120 new, eligible payments on your new consolidation loan. So, in that case, you may want to hold of on consolidation.
Now, if your loans aren't PSLF-eligible, you may be able to consolidate them into the Direct Loan program so that they do qualify. In that instance, consolidation can put you on the track to forgiveness if you meet the other requirements. In general, PSLF is typically "better" for borrowers than consolidation, because it will eliminate your loans (as opposed to consolidation, which can save you money with lower payments but cause you to pay more overall due to an increased repayment period).
If you can provide a bit more info about your loans and why you want to consolidate, I can try to help you some more!
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