Loan Consolidation with a Perkins loan?
June 30, 2012 7:52 PM Subscribe
Should you apply for Special Direct Loan consolidation if you have a Perkins loan?
posted by sunnychef88 to work & money (1 answer total)
Is it more fiscally savvy to consolidate student loans through the traditional direct loan consolidation program or the Special Direct Consolidation program if you have a Perkins loans? Fyi: I'm going to be in school for at least another 5 years if I get into professional school.
The traditional direct loan consolidation program allows you to include Perkins loans in the one monthly loan payment. The special direct consolidation program would result in a lower interest rate, but would exclude the Perkins loan from loan forgiveness eligibility. How do I decide which type of consolidation is best for me? I haven't been able to find info comparing the advantages and disadvantages of the two programs for Perkins loan holders.