Articles Comments

Debt Relief – Insolvency – Bankruptcy Information » Student Loan Help » how does student loan consolidation work?

how does student loan consolidation work?

I am wondering how student loan consolidation works,,, once i consloidate my loans do i get a sum of cash? i know i have gotten offers that say up to $2000 now if you consolidate. does that mean i get $2000 for myself, or do they take that off the ammount of the loan.

RELATED POSTS:

  1. private student Loan consoLidation caLcuLator If you are suffering from unexpected emergency between your paydays due to financial want, $ 1500 installment payday loan...

  2. Student Loans : Student Loan Consolidation Student loan consolidation is a great way to get a lower interest rate, as a reputable consolidation company will...

  3. CURIOUS: What are your chances of getting approved for Federal student loan consolidation? Also, Do debt consolidation companies include federal educational loans into the consolidation? If you have a federal student loan, and...

  4. Student Loan Debt Consolidation Learn about student loan debt consolidation, student loan debt forgiveness, debt consolidation loans, and student loan consolidation. www.christianet.com ...

  5. What is a good loan consolidation program for Federal and Private student loans? I am looking for a good student loan consolidation program that will take on both my Federal and Private student...

Written by

Filed under: Student Loan Help · Tags: , , ,

2 Responses to "how does student loan consolidation work?"

  1. Luke 6:37 says:
    You don’t get $2000 off, you probably just save that much in interest by consolidating. You are basically consolidating to get a lower fixed rate on your loan, that’s the benefit.
  2. greentadpole says:
    Generally, a consolidation loan lumps all your student loans into a new loan, with up to 30 years to pay back and a fixed interest rate. It really makes it easy if you have student loans scattered across different lenders/servicers.

    The key word in your statement is ‘up to $2000′, if you have a lower balance, you probably will not get that much as a credit. Yes, you would get a credit, not cash back.

    And if you do get ‘up to $2000′, believe me, you will pay for it eventually. There’s no such thing as a free lunch (imo).

Leave a Reply

Connect with Facebook

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Not finding what you're looking for?
Do a custom search of our entire site:

Get Adobe Flash player