You will only be responsible for a single account with a single financial institution.
The interest rate for your consolidated loan will not change over time.
Consolidation potentially lower your monthly payment by extending the term of your loan.
- This may also mean paying more interest in total over the lifetime of your loan.
Despite the possible benefits of consolidating your student loans, there are many reasons why consolidating your student loans may not be your best possible option. Continue reading to determine if consolidation is beneficial to you and how to embark on the process.
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