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Who to Consolodate with?

Total Posts: 1

Joined 2017-01-20

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Hi, can you give me the basics on who I should consolidate with? That is, if I should at all.

I have one loan totaling $23,000 and one totaling $3,000.

The $23,000 is in an income-based repayment plan and therefore isn’t expecting payment.

The $3,000 expects payment … well, yesterday. It also can’t be delayed any longer. But the minimum payment for which is an affordable $40.

But I was thinking about consolidating the $3,000 loan into the $23,000 loan, as that would further put off payment of any kind. The $23,000 loan seems more lenient about income-based repayment plans. 

But then again, I could consolidate both loans into some third-party account, but I don’t yet know who or even how to go about finding out.

Or, I could just start making my $40 payments every month and pay them off separately.

How do I do this? Will math be involved?

Thanks.