Student loan consolidation is an effective way to reorganize student debt when a person has multiple loans to deal with.By consolidating several student loans, people are able to combine their loans into a single monthly payment, with a single interest rate, on a single term.
The basic process of federal loan consolidation includes following: Get all the facts and benefits of federal student loan consolidation.
Private student loan consolidation (sometimes known as refinancing) is a very important option to consider when dealing with private student loans.
And needless to say, it’s important that you get it right!
Besides being able to organize multiple loans into a single monthly payment plan on one interest rate, loan consolidation refinancing gives student borrowers access to flexible repayment plans, and in many cases, a lower interest rate.
This eliminates the nightmare of juggling multiple payments at different interest rates.