SLCS - Student Loan Counseling Service, Inc.

Repayment Options

Option 1: Consolidation Loan

What is it?
A means of combining all of your federal student loans under a single repayment schedule.

When is it a good idea?
When you:

Have a lot of education debt, and/or

Have more than one loan servicer.

How do I apply for a consolidation loan?
Contact your current lender to see if they offer consolidation loans. If not, call us at (888) 633-4850, and we will refer you to a consolidation lender.

To learn more about consolidation loans, click here.

If a consolidation loan is not the best option for you, review any other options on this Results Page, or click below to return to the questionnaire to make another selection.

Option 2: Mandatory Forbearance for High Title IV Debt

What is it?
A means of postponing payments on your student loans for up to 36 months (3 years).

When do I qualify?
If the combined amount you pay on your student loans is greater than 20% of your gross monthly income.

What loans are included?
All Title IV loans: FFELP, Federal Direct, and Federal Perkins loans.

When is this Mandatory Forbearance a good idea?
When you are temporarily struggling to make your student loan payments.

When is it not a good idea?
When, despite your high education debt, you are able to afford your monthly payments. During any forbearance, interest continues to accrue, even when you are not required to make payments.

To learn more about mandatory forbearances, click here.

If you feel that a mandatory forbearance is not the best solution for you, please click the button below to return to the questionnaire and make another selection.