Most borrowers will need a cosigner for this loan to meet credit, employment, and debt-to-income requirements.
Rates are typically higher without a cosigner; however, borrowers that meet these requirements on their own do not need a cosigner (but may still choose to apply with a cosigner).
It is not unusual to owe money to 8-10 separate lenders, maybe more if you had a combination of private and federal loans.
If you continue borrowing for graduate school, it’s easy to add another 4-6 lenders to the mix.
Whether you're considering consolidating debt to save money or to make money management easier, a Money Makeover is where we will start. One of the best places to start looking is the federal Direct Consolidation Loan program.If you did borrow money for college, chances are you received a new loan each semester.Are multiple loan and credit card payments keeping you up at night?Does your debt seem to be spiraling out of control?That is a sizeable, unwelcome gift to take home from school and it’s important to know how to minimize the damage.