What is consolidation?
A consolidation loan combines several student loans into one larger loan from a single lender. The consolidation loan is used to pay off the balances on the other federal student loans. Consolidation has many benefits, but is not necessarily right for everyone. For information on consolidating your loans, click the link below. http://www.hsc.unt.edu/departments/financialaid/consolidation.
Consolidation is the process by which students in a double room without a roommate are relocated into a new room. Relocation relieves the remaining student from the need to pay for the room as a private room. This process occurs and continues throughout each semester. Students receive a series of letters explaining the process and are requested to meet with an EKU Housing assignments staff member to receive assistance. This process is necessary to provide for more efficient use of space within the residence halls. It allows additional space to be used to meet student requests for private and special purpose rooms. Students failing to consolidate will be charged the private room fee.
A. A loan program that allows borrowers to combine all of their federal education loans into a single loan. The program allows borrowers to make a single monthly payment and extend the repayment period (up to 30 years depending on the loan amount). Consolidation loans can make loan repayment more manageable for borrowers with high loan balances.
Consolidation loans combine several student or parent loans into one bigger loan from a single lender, which is then used to pay off the balance on the other loans. You should keep in mind that although consolidation can simplify loan repayment and lower your monthly payment, it also can significantly increase the total cost of repaying your loans, and once a Federal Consolidation Loan is made, it cannot be unmade. Use the Loan Consolidation Calculator to see if this option is for you. If you don’t need monthly payment relief, you should compare the cost of repaying your unconsolidated loans against the cost of repaying a consolidation loan. You also should take into account the impact of losing any borrower benefits offered under non-consolidated repayment plans. Borrower benefits, which may include interest rate discounts, principal rebates, or some loan cancellation benefits can significantly reduce the cost of repaying your loan. • Who is eligible for a FFEL Consolidation loan? You
