My husband would like to consilidate his loans after multiple forebearances. We would like to start paying on them, but at the current payment they are too expensive for us. Has anyone had any luck consilidating after forebearances or does this matter?

You should be able to consolidate whether or not you have had a forbearance on the loan. You keep your deferment/forbearance rights after consolidation too, btw.

I agree with Cheech -- I don't think it matters at all if you're in forbearance if you want to consolidate, as long as you are in "good standing". If you have been granted forbearance by the OC, then you are in good standing. Are your loans currently with the USDOE or with another lender (or multiple lenders)? If they're all with one lender, you have to get your consolidation loan through them, unless they say they won't do it, which I think they almost always do.

Good luck!

Tuts

Unless your DH's loans are in default or are seriously delinquent, then he should have no problem getting them consolidated. Forebearance, like deferment, is a Federal right and is designed to not harm the borrower's credit. Loans in forebearance are not considered late, since no payment is due while in forebearance. A nice side benefit of consolidation is the in most cases all the deferments and forebearances that DH has used are renewed since it is a new loan.


fla-tan