Student Loan Consolidation
My wife has Federal Stafford Student Loans which she consolidated with the Federal Loan Program at about 5% several years ago. Her balance is $16,850 and her payment is $158 monthly.
I think she cannot consolidate again with this same Federal Wm. Ford Program, or any other federal program that might exist. Is this true? Can she consolidate with a private lender? I know there are large benefits to the federal loans, including postponement should she go back to school, forgiveness under certain circumstance, etc.
But it seems that interest rates are much lower, so it might be a good idea anyway if it is possible to consolidate again.
I don't have any experience with this, and I will greatly appreciate any comments or ideas.