Three Good Reasons To Consolidate Your Student Loans | 12.14.09
Many graduates waiver back and forth when deciding whether or not to consolidate their federal student loans. If you are one of those people here are three good reasons to consolidate.
1: Your monthly payments will be lower: Consolidating your loans extends your repayment term. Therefore, your monthly payments will be a lot lower than they were before. You can cut your monthly costs by as much as 50%.
2: Your life will be simpler: Instead of having to make payments every month to a bunch of different lenders you will only have to make one payment to one lending institution.
3: It is free: There are no credit checks, fees or application charges and you will not be penalized for early repayment.
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To respond to m gibble- According to the book “How to Wipe Out Your Student Loans”, “almost any type of federal student loan can be consolidated in a Direct consolidation loan”. This includes Plus loans. You can’t consolidate federal and private loans, however.
Does anyone know if parent plus loans and studend loans can be consolidated?
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