Consolidating loan private
If you submitted your application online, your consolidation servicer’s contact information was provided at the end of the online process.
Like federal loans, private student loans cannot be discharged in bankruptcy.
Top will let you know when the first payment is due.
If any of the loans you want to consolidate are still in the grace period, you have the option of indicating on your Direct Consolidation Loan application that you want the servicer that is processing your application to delay the consolidation of your loans until closer to the grace period end date.
However, there are three constants every lender will look at before granting a private student loan consolidation loan: Do you have a steady income? Debt-to-income ratio is a math equation – amount of recurring monthly expenses divided by amount of monthly income – that measures of how much debt you can handle based on your income.
Lenders can make loans when your DTI is in the 40%-45% range, but they really prefer you have something less than 35%.