Is there a benefit to consolidating student loans
So my goal here is to correct that misinformation and show you exactly what student loan consolidation is and when it can help you.
Specifically, we’re going to cover the following: By the end of this post, you will know whether consolidating your student loans is a good idea and how you can get started.
When I talk to people who are frustrated with their student loan debt and want to get rid of it as soon as possible, there’s one question that comes up over and over again: Should I consolidate my student loans?
It’s a tricky question both because there are a lot of variables to consider and because there’s a lot of misinformation out there about exactly what student loan consolidation is and how it can help you.
For most people, this would be the main reason to consolidate your student loans.So understanding the difference is key to making the right decision for your specific situation.Most of this post will be spent talking about the pros and cons of federal student loan consolidation.The catch is that only certain types of federal student loans qualify for these income-driven repayment plans.Before 2010, federal student loans used to be given out in two different ways.