Which is better consolidation or rehabilitation for defaulted student loans

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» Which is better consolidation or rehabilitation for defaulted student loans

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Nov 13, 2007, 08:13 PM

nbqueen

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Join Date: Nov 2007

Posts: 1

Which is better consolidation or rehabilitation for defaulted student loans

It's been 6 years since I graduated and what started out as $36,000 has now turned into $50,000 of loan. I am seriously thinking about repayment since I now have a a decent paying job. I am married and need to reestablish my 540 credit score. What are benefits of either consolidation or loan rehabilitation? Can I renegotiate the interest rate? Lastly what if I lose this decent paying job and cannot afford the repayment amount?

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