If you’ve ever seen those ads on TV late at night asking, “Do you know where your kids are?” you know what I’m talking about. If you haven’t, well, now you do!
Just as important as knowing what your children are up to at night is the status of your student loans. Specifically, their interest rates and repayment plans. Did you know that because nearly all private student loans have variable APRs, your interest rate could have changed several times in the past 2 years?
One way to make it easier to keep track of your loans is to consolidate them. Of course, there are a lot more benefits than just having one bill and interest rate. Here are some more loan consolidation benefits:
- A credit score boost
- Lowers your monthly payments up to 50% (at the expense of more interest overall)
- The interest rate for private consolidation can actually end up being lower than the average of your consolidated loans (saving money!) based on credit
Sound good to you? If so, then get started on a loan consolidation!
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