What are the advantages of a Direct Consolidation Loan?
A Direct Consolidation Loan offers many advantages. Among them: ▼ Affordability – By consolidating your education loans, you may be able to extend your loan repayment period. Extending your repayment period reduces your monthly payments. But, remember, if you take longer to repay your loan, you’ll pay more interest and, therefore, a higher total amount over the life of the loan. When you consolidate your federal education loans into a Direct Consolidation Loan, you’ll be able to take advantage of the interest rates available in the Direct Loan Program.This may reduce the total amount of money you repay over the length of your loan. ▼ Flexibility – If you consolidate your loans, you’ll gain financial flexibility.You’ll be able to choose from several different repayment plans and change your repayment plan as your financial circumstances change.You pick the plan that best fits your needs. ▼ Efficiency -A Direct Consolidation Loan allows you to consolidate loans from different lenders. If
