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So I'm about two years out from my degree I guess and I have some a few plain old federal financial aid loans as well as a few steep bank loans. I've been told that bank loans are about the worst route to go, and I was wondering if at this point there is any alternative I can take. I figure if I try to take out loans from too many sources, I'll be hit with all kinds of payments to be made all at once when the time comes, but I don't really know that much about how all this works. How should I proceed?
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Most loans can be consolidated by a third party lender into one. I had about 95k separated amongst my loans and parent plus loans about 14 different loans. Only downside is if I decide to take the full 10 years to pay it off the 6% interest will throw on an extra 35k.
Try to get as many loans from the government as possible through your school or parents, if that doesn't work see if there are any non bank loans you can get ( I got one specific to Texas Engineers). If you're in a STEM career like CSI that has a base of $50k-75k salary, you can pay it back with no big hassle, depending on your circumstances.
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