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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 ...
However, private lenders have strict lending guidelines for private student loan consolidation and refinancing. How to Consolidate Federal Student Loans. With federal student loans, the Department ...
A Direct Loan Consolidation combines your federal student loans into a new, individual account. You can extend your repayment period and lower your monthly payment while retaining your valuable ...
Consolidation loans have longer terms than other loans. Debtors can choose terms of 10–30 years. Although the monthly repayments are lower, the total amount paid over the term of the loan is higher than would be paid with other loans.
Student loan consolidation may be a good fit if you: You have high-interest private student loan debt. Your new loan (whether federal or private) carries a much lower APR than your current student ...
If your federal student loans are in default (meaning that you’ve missed 270 days of payments), you can take action in one of two ways: student loan rehabilitation or consolidation.
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