Once you apply, it can take up to 60 days to process your consolidation, said Kantrowitz. In the meantime, you might see your student loan payment count drop to zero. Don’t panic if this happens. It just means your adjustment count is being worked on.

Some student loan borrowers may qualify for a one-time debt cancellation or credit, but they'll have to take action by Tuesday. Why it matters: Eligible borrowers who consolidate their loans by the deadline may see thousand of dollars of student debt forgiven thanks to a one-time adjustment from the U.S. Department of Education this summer.

Compare Student Loans Our Picks for the Best Student Loans With No Co-Signer What is a Student Loan Co-Signer? Eligibility for private student loans is typically determined based on the applicant’s credit score and history.

Certain federal loan holders must consolidate by April 30 to qualify through Income-Driven Repayment and Public Service Loan Forgiveness.

Here’s what borrowers need to know about applying for current and forthcoming student loan forgiveness initiatives by the Biden administration.

That program, along with ongoing forgiveness through income-driven repayment, is approaching a critical April 30 deadline. It could save borrowers thousands, said Sabrina Calazans, managing director of the Student Debt Crisis Center. “That could be the difference between canceling someone’s loans or not,” Calazans said.

Borrowers hoping for student loan forgiveness have just a few more days to act before an April 30 deadline. Those who before the deadline request a so-called loan consolidation w

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How To Qualify for a Lower Student Loan Interest Rate Federal loans come with fixed rates, so there’s nothing you can do to qualify for a lower rate. However, when you apply for a private student loan,