Consoladating student loans
According to Edvisors, the average student loan burden for the undergraduate class of 2015 is ,000.
Instead of making multiple payments to multiple lenders, the borrower only has to pay off the new consolidation loan, says Michelle Pezzulli, vice president of operations for Credit Union Student Choice, a student lending service provider in Washington, D.
C."That new loan will have its own interest rate; it will have its own repayment terms; it will have its own terms and conditions," she says.
CONSOLIDATING STUDENT LOANS Let’s take a look at a few of the pros and cons of consolidating your student loans.
CONSOLIDATING STUDENT LOANS If you have multiple student loans, STUDENT LOAN consolidation can offer some simplicity to your repayment.
More than 44 million borrowers owe $1.4 trillion in student loan debt in 2017.
Most of them could streamline the repayment process by consolidating their student loans. Get Financial Help Now It simplifies repayment and could save you money.
Both federal and private lenders recognize that lower monthly payments help may be the best option, if you don’t get the job you want immediately after graduating from colleges.
Find out more about the choices debt consolidation offers.
Ideally, you would qualify for debt consolidation after graduation.