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Debt Relief – Insolvency – Bankruptcy Information » Student Loan Help » What is the benefit of consolidating a federal student loan?

What is the benefit of consolidating a federal student loan?

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2 Responses to "What is the benefit of consolidating a federal student loan?"

  1. Jen says:
    it makes a lower monthly bill…if you have multiple student loans through different lenders and are having trouble keeping up this is a good option to stay out of defaultment.
  2. purelluk says:
    You lower your monthly payments, you can combine loans from multiple lenders into one loan, and more importantly you lock in a lower interest rate for the life of your loan.

    You generally consolidate once your in-school deferment status expires. You can consolidate earlier if the interest rates are increasing (around May) and then reapply for in-school deferment once the consolidation process has been completed.

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