Im a parent-borrower with loans for several children. Can I consolidate them all together into a single loan?
Yes, you can do this if you were the original borrower on the loans. Each student must be out of school (either graduated or withdrawn) for their loans to be eligible for consolidation. Otherwise, you may want to wait until your last student graduates. Return to top of page Can I consolidate my loans with my spouses into a single loan, even if we did not originally borrow together? Yes, you can do this, although we dont recommend it. NJCLASS loans have no provision for cancellation due to disability or death of one of the borrowers. Nor can they be separated in the event of a divorce. You will be responsible for the entire consolidation loan debt, regardless of your obligation to the original, underlying loans. Return to top of page Im repaying my loans now, but Im still in school. Why do I have to wait to consolidate? You want to be sure that you wont need additional NJCLASS loans after you consolidate. The best way to ensure that is to be out of school. Additionally, there are very l
Yes, you can do this if you were the original borrower on the loans. Each student must be out of school (either graduated or withdrawn) for their loans to be eligible for consolidation. Otherwise, you may want to wait until your last student graduates. Return to top of page Can I consolidate my loans with my spouses into a single loan, even if we did not originally borrow together? Yes, you can do this, although we dont recommend it. NJCLASS loans have no provision for cancellation due to disability or death of one of the borrowers. Nor can they be separated in the event of a divorce. You will be responsible for the entire consolidation loan debt, regardless of your obligation to the original, underlying loans. Return to top of page Im repaying my loans now, but Im still in school. Why do I have to wait to consolidate? You want to be sure that you wont need additional NJCLASS loans after you consolidate. The best way to ensure that is to be out of school. Additionally, there are very l
Related Questions
- May a parent loan borrower consolidate his Federal PLUS (FPLUS) loans for three different children in order to obtain a longer repayment period?
- I’m a parent-borrower with loans for several children. Can I consolidate them all together into a single loan?
- Can parents consolidate their Federal PLUS Loans with their children’s student loans?
