There's good news for at least some of the student loan borrowers who missed the April 30 deadline to qualify for quicker debt forgiveness: They may still be eligible for other relief options.by the end of April 30 — a move that combined their federal student loans into one new federal loan — are able to get their debt sooner than they would have otherwise.
Here's his reasoning: Borrowers had to apply for a consolidation by that deadline. But the process, which can take up to 60 days, didn't need to be complete by then. "So, if the borrower applies for a consolidation now, and the consolidation is completed quickly, and the borrower is really lucky, maybe the payment account adjustment will still apply," Kantrowitz said.Closing Bell: Overtime
Other risks that come with consolidating your loans include the capitalization of interest and a new, longer repayment term, he added.You may still be eligible for other relief options.