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Pay for College
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Benefits of Student Loan Consolidation
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If you have multiple school loans and want to just make one easy loan payment with a fixed interest rate, you should consider consolidating your student loans with the U.S. Dept. of Education, also known as a Federal Direct Consolidation Loan.
Some of the benefits of consolidating student loans include:
- One loan, one monthly payment.
- Secure a lower and fixed interest rate.
- Save money on interest.
- Lower monthly payments allow you to be more flexible with your finances.
- Resets the time frame on deferment and forbearance because it is a new loan.
- May help improve your credit score since there are fewer creditors on the credit history.
- The borrower has flexible repayment options.
For more information on student loan consolidation:
Student Loan Consolidation TipsStudent Loan Consolidation FAQ
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