Although most education loans are eligible for consolidation into a Direct Consolidation Loan. There are some private loans that are always ineligible for consolidation. So before you take out any student loans, consider your options and study all fine prints. It’s easy and tempting to get the loans before you enter the programs and thinking it’ll be easy to pay them off later on with good salary. or some of you might think that you’d worry about that later on.
It’s not the same any more. Students who graduate in bad economical times often find themselves looking for jobs and finding none or they’d have to take jobs that are low payed. Many recent graduates find themselves just in that situation. So before you sign any loan papers, talk to a professional. Here are some loans that will not be eligible for consolidation:
- Loans made by a state or private lender and not guaranteed by the federal government
- Primary Care Loans
- Law Access Loans
- Medical Assist Loans
- PLATO Loans
Source: U.S. Department of Education