| Is Student Loan Consolidation Right for YOU? |
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muneebgs
Member
Cash: $ 2.75
Posts: 12
Joined: 08 Feb 2007
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| Is Student Loan Consolidation Right for YOU? |
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Student loan consolidation may be right for you, if you want to accomplish one of the following:
1. want a lower monthly student loan payment
2. want to combine several student loan payments into one payment
3. want to fix your interest rate (federal consolidation only)
If your goal is any of the above, then student loan consolidation might be a good option for you.
KEEP IN MIND: If you have less than $10,000 in student loans, consolidating your loans will not reduce your monthly payment and many lenders won’t offer consolidation if your total loan balance is that low. If that’s your situation, you should ask your existing lender about combined billing for your accounts or alternate repayment plans that may temporarily provide lower monthly payments.
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Tue Apr 17, 2007 8:42 pm |
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dstern
Contributing Member
Cash: $ 6.60
Posts: 33
Joined: 18 Aug 2007
Location: UK
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doesn't always work, i've heard of people trying to consolidate to reduce the amount of debt only to end up paying more on top of the original loan..
better advise is to be more organised with money..
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Fri Sep 14, 2007 9:57 pm |
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