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What are the disadvantages of consolidating my loans?

April 26, 2017consolidating disadvantages Loans

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What are the disadvantages of consolidating my loans?

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Increased interest costs like a home mortgage or car loan, extending the years of repayment with the Consolidation loan, increases the total amount you have to repay. Loss of eligibility for certain types of deferments for loans disbursed prior to 07/01/1993.