Good morning everyone,
I have a very simple situation in regards to my student loans. They've steadily been in forbearance for several years while I got on my feet financially. I am hoping to start paying on them next year when the forbearance ends. They are held by the US Dept of Ed. I have a total of 14 different loans of varying amounts, all with interest rates of 7.22%. Total interest accrued to date is $3K. I have five subsidized loans and three unsubsidized loans.
I suppose it's obvious that I should consolidate but I want to make sure that's the right move to make? I have only about six months left to pay on my car and have to file bankruptcy but once that's done I'll start repaying in an effort to build some positive credit history in preparation of buying a house in three years. The sooner I start paying on these the better and if I'm going to do that then I better look into consolidation first and get it out of the way. Will this positively affect my interest way in some way? Is my thinking correct?
Thanks for your help!