Pros and cons to consolidating loans

Whom do I contact if I have questions about consolidation?There is no cap on the interest rate of a Direct Consolidation Loan.

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Select, economically disadvantaged students are eligible for additional loans through the Perkins program.

The aid is designed to increase college access for the neediest groups of students.

You can apply to consolidate your federal student loans at Student

Pros: Refinancing combines your student loans into a single loan.

The application to refinance is similar to an application for a new loan and market rates and your financial profile determine the new loan's interest rate.

Both consolidating and refinancing can take away the headache of managing multiple student loans, but there are pros and cons to consider before you apply.

According to Edvisors, the average student loan burden for the undergraduate class of 2015 is ,000.

It's likely that amount is spread out over several loans as students often take out new loans each semester or school year.

Once your loans are combined into a Direct Consolidation Loan, they cannot be removed.

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