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Key takeaways. You may be able to get out of debt without paying based on factors like your total debt, type of debt and income. Several programs are available to help forgive student loan debt ...
Debt consolidation loan: This is a type of personal loan. Some loans are secured , meaning you need collateral in exchange for funds, but most are unsecured. Each loan comes with its own repayment ...
And if you have federal loans, switching to a Direct Consolidation Loan can be necessary to access federal student loan repayment and forgiveness plans. That said, there are times when ...
Retain federal student loan benefits: When you consolidate federal student loans, you can still take advantage of income-driven repayment plans, forgiveness options and repayment hardship plans in ...
Debt consolidation: Debt consolidation merges multiple debts into a single loan, typically with a lower interest rate. This can simplify payments and potentially reduce overall debt.
See related: How to consolidate student loans. Financial benefits. The amount of interest you pay on student loans can add up over time, but consolidating can give you the financial relief you ...
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