Consider these options first

Consolidating debt loan

We will always aim to help you if we see, or you tell us, that you are having trouble financially. Students with multiple federal loans are increasingly concerned about how they will meet repayment obligations after graduation. Consider these options first. There are likely other options you may want to consider as well. Tell us as soon as possible if your card has been lost or stolen, or if you know or suspect someone is misusing your confidential information e.

Once the introductory period expiresIf your Perkins Loans

However, by doing that, you run the risk of never paying your debt off. You need a solid plan for paying off your consolidated debt.

Leaving many cards open also leaves you vulnerable to identity theft. Sit down with your family, and with the help of a credit counselor or financial planner, create a budget that balances your income with your spending and savings goals. Track your spending on a regular basis and evaluate the differences between your needs and wants.

Once the introductory period expires, the rate on a balance transfer card is usually higher than on a personal loan. If your Perkins Loans already carry low rates, it may not benefit you to consolidate.

Even among nonprofit credit counseling agencies, some are a better fit than others. Until a few years ago, another common practice among debt settlement firms was to charge clients fees before obtaining results. Agencies accredited by these organizations must maintain standards and their counselors have to complete a certification program.