What is Student Loan Consolidation?
Getting a student loan is a great way for students who need financial aid to help pay for their college.
The downside is that students often leave college with quite a huge debt. Also, they often have multiple loans
from different lenders, meaning they are writing more than one loan repayment check each month. The
solution to this problem is loan consolidation.
Loan consolidation means bundling all your student loans into a single loan with one lender and one repayment
plan. When you consolidate your student loans, the balances of your existing student loans are paid off, with the
total balance rolling over into one consolidated loan. The end result is that you have only one student loan to pay
on. The good thing is that both students and their parents can consolidate loans.
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