Advice on consolidating student loans
Both spouses are jointly liable for the loan and both must request IBR.
Problems often arise if the ex-spouses are no longer in contact.
WARNING: It is very dangerous to consolidate federal loans into a private consolidation loan.
You will lose your rights under the federal loan programs once you choose to consolidate with a private lender.
The good news is that the Department explains on its web site that if any loan you want to consolidate is still in the grace period, you can delay entering repayment on your new Direct Consolidation Loan until closer to your grace period end date.
You can indicate this when you apply, and the consolidation servicer will wait to process your application until the appropriate time.
(see box below), You can consolidate during grace periods.
However, the interest rate may be greater than 8.25% if your consolidation application was received on or after July 1, 2013.Another common problem is that partial discharge of a joint consolidation loan under any of the discharge programs (other than death discharge) does not eliminate joint liability for the remaining balance.