Tips Be eligible for a home Guarantee Loan or HELOC If this is sensible to repay figuratively speaking having good house security device utilizes the loan style of. Government student loans provide reduced-interest levels and you may borrower benefits such earnings-inspired cost (IDR) arrangements, mortgage forgiveness applications, and you may forbearance otherwise deferment alternatives when you find yourself up against monetaray hardship or you go back again to school. Home equity products you should never offer the same perks, and combining having a house security financing otherwise HELOC would give up this type of pros. Most of the time, it will make a lot more experience to keep your federal student loans as try. Of course, if you want to consolidate her or him getting much easier payment, you could take into account the government Head Loan Consolidation system. Although not, individual college loans out-of personal loan providers you are going to come with high focus costs and you can a lot fewer perks than just government student loans.