Www consolidating student loans com
If you have multiple student loans, you may want to consolidate them at some point.
Consolidating basically means taking out a brand new gigantic loan to pay off all of your smaller loans.
If you have multiple student loans, consolidation can offer some simplicity to your repayment.
You have some flexibility in picking your loan term, but you'll simply receive an interest rate that's a weighted average of your existing rates.
However, our team also researched other institutions and found some good alternatives for people that want to consider all options before they begin the process of refinancing or consolidating student loans. If you’re concerned about lowering your monthly loan payments, consolidation could be a good option for you.
You can find each lender below, along with information on rates, terms, and other key details. But remember, lowering your monthly payments could mean that you end up paying more in interest overall.
When even the basic term "consolidation" means different things for different lenders, the process can understandably seem daunting.
But if you're looking to save thousands on student loan interest payments -- as well as time and headaches from managing multiple monthly payments -- then understanding the consolidation process is critical.