Cons of consolidating student loans datingshow
You may be able to consolidate your federal student loans, which involves combining most or all of your federal loans into one new Federal Direct Consolidation Loan.
You'll have one payment each month and one interest rate that's based on your current loans' rates.
The biggest advantage of federal student loan consolidation is that your monthly cash flow improves immediately.
My monthly payment went from almost 0 a month to 2 a month.
When I finished my graduate degree, I had five different student loans for attendance at two different universities, with various interest rates.
These days, you won’t get the same deal I have on my consolidation.Check your rate using Ready For Zero's free debt consolidation tool.People have saved thousands by consolidating higher-interest debts using a single, personal loan, this will not negatively impact your credit. Think about both the pros and cons of student loan consolidation.As with all loans, anytime you extend the repayment term, the more you are going to pay.This is especially true if you end up with than you had before.