We’ll walk you through some of the key considerations as you decide whether refinancing or consolidating is right for you (there are even situations where you might want to do a mix of both).We can also help connect you with lenders who participate in refinance and consolidation programs that offer the terms and benefits you may be looking for, and get the process started for both federal and private student loans.Depending on the status of your federal student loan, you may end up losing your tax refund. If you’re not making payments becuase you have a deferment or forbearance, do yourself a favor and double check the status of that.Deferments and forbearances come in 6 and 12-month time spans.
This conclusion may not be as easy to determine and certainly would not be determined merely by asking “whether the student received funding from Chase.” Although Chase currently only provides private loans, not too long ago they were also providing funds for federal student loans.The reason a student must determine how they financed their education is because a federal student loan and a private student loan cannot be consolidated together, but must consolidate separately.If a student has received a number of private loans to help finance their education, said student can (subject to credit approval) consolidate their private loans, as long as the collective amount of the loans they are looking to consolidate have a value between ,500 and 0,000.If your loan is in default, you may not get your tax refund due to a Federal Income Tax Return Intercept. You, the borrower, will not get back any refund money taken to pay your defaulted federal student loan. If you’re in default, use this time to take action.You can avoid future intercepts by rehabilitating your federal student loan and remaining current on payments. Get your loan out of default, get a payment plan you can afford, and then you can file your tax return.