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Why should I consolidate my student loans?

April 26, 2017consolidate student loans

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Why should I consolidate my student loans?

4 Answers

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• If you need a reduced monthly payment. • If you have multiple lenders and only want to make one payment to one company a month. • To make managing your debt easier. • It could improve your credit score. • It may result in interest rate reductions. • You could lock in a fixed interest rate.

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Federal student loan consolidation offers you the opportunity to fix your rate for the life of your loan, and take advantage of interest rate reduction programs that can dramatically cut your monthly loan payments.

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Federal Student Loan Consolidation provides many benefits, even if you’re currently making your monthly payments without any difficulty. • With Federal Student Loan Consolidation you will have only one monthly bill for your Federal Student Loans. • The interest rate on a Federal Student Loan Consolidation is fixed for the life of the loan. Both Federal Stafford Subsidized and Unsubsidized Loans that were disbursed before July 1st, 2006 carry variable interest rates that adjust annually. • Consolidating will help you with a more flexible payment by reducing your monthly student loan payment up to 60%. • Consolidation is a good way to free up money to put towards higher interest bearing debt such as credit cards or car loans. • Federal Student Loan Consolidation will help with your credit scores and debt-to-income ratio (DTI), both are key factors if you’re looking to purchase or refinance a home.

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Federal Student Loan Consolidation provides many benefits, even if you’re currently making your monthly payments without any difficulty. • With Federal Student Loan Consolidation you will have only one monthly bill for your Federal Student Loans. • The interest rate on a Federal Student Loan Consolidation is fixed for the life of the loan. Both Federal Stafford Subsidized and Unsubsidized Loans may carry variable interest rates that adjust annually. • Consolidation is a good way to free up money to put towards higher interest bearing debt such as credit cards or car loans. • Federal Student Loan Consolidation will help with your credit scores and debt-to-income ratio (DTI), both are key factors if you’re looking to purchase or refinance a home.