I paid off my loans years ago. I had subsidized stafford. I also had idiots telling me to consolidate as soon as possible. It was the worst advice I could have received. Instead of consolidating, I registered for night time classes and deferred. I want to the classes selectively. This worked, until I had more room under my budget to pay off the loans. Consolidating loans is a trap.
I think consolidating works for folks, especially when they have multiple loans with varying, high interest rates
If you consolidate you lose the right to deferral. If you cannot defer you cannot go back to school. If you go back to school, you may improve your education and become more marketable. If you are more marketable, you can earn more money and pay off your loans faster. The consolidation advice people were pushing on me was a terrible suggestion.
If you work in certain industries you may qualify for public interest loan forgiveness, too. Teachers, non-profit, and government workers may qualify.
There is so much misinformation in this thread. There is no "public interest" loan forgiveness program. There is a public service loan program which was just a political trick. Politicians were lying, to get votes. 99 percent of applicants under this program have been denied. No one is coming to rescue you. If you borrowed the money, you need to pay it back.
What is he going to do exactly?
He will promise broadly about student loan cancellation, with few details. If elected, the program created will be far more narrow than the promises, eliminating eligibility for nearly all.
I have tried consolidating but keep getting denied, why?
You could talk to your loan provider and have them walk through what you may be doing wrong. Have them help you with the paperwork
