Student loan consolidation is a practical repayment tool that combines your student loans into one master loan, significantly reducing your monthly payment (up to 50% in some cases!).
So what exactly is student loan consolidation? In a nutshell,consolidating your student loans is a way to refinance your existing student loans and combine them into one new loan. The key benefit of this is that your interest rate and monthly payments can be significantly reduced. You could in fact end up saving thousands of dollars.
So what exactly is student loan consolidation? In a nutshell,consolidating your student loans is a way to refinance your existing student loans and combine them into one new loan. The key benefit of this is that your interest rate and monthly payments can be significantly reduced. You could in fact end up saving thousands of dollars.
Even if you feel that you can make your original student loan payments on time each month, it is still a good idea to consolidate them to lower your payments and free up money which you can then use to pay off debts with higher interest such as credit cards and personal loans. Consolidating student loans, however, is not a simple process. In order to truly benefit from it, you must do all your due diligence. You need to become knowledgeable of all pertinent facts and options available to you, research and find reputable companies that specialize in providing student loan consolidation services, and know what to look for when comparing companies and what services to expect once a company has consolidated your loans. Your financial situation can actually get a lot worse if you don't know what you are doing. We hope, however, that our guide will provide you with a strong foundation and point you to the resources needed to make this process go smoothly.
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