Consolidating to direct loans
Student loan consolidation helps with a primary goal of reducing monthly payment amounts or reducing the number of companies to deal with, or both.
An interest rate reduction may not necessarily be achieved through consolidation (especially through the Federal program), but may be achieved through student loan refinancing; typically offered by a private lender.
Before you choose to consolidate your loans, examine your situation carefully to determine if this is the best course of action.
The electronic application on Student consists of the following five steps: 1.
The average credit card interest rate is around 15%.
This isn’t a solution that works well for everyone (even if you do have several different loans to manage).
A PLUS loan made to the parent of a dependent student cannot be transferred to the student through consolidation.