Search Results for: student loans

Consolidating debt may reduce your overall monthly payments

Cash-out refinancing can help homeowners who want to consolidate high-interest, nondeductible debt. Because your mortgage interest rate is likely to be lower than rates on credit cards or other types of bank loans, consolidating debt may reduce your overall monthly debt payments. In addition, your mortgage interest may be tax-deductible, while your credit card interest … Continue reading “Consolidating debt may reduce your overall monthly payments”

Chance to use consolidation to get out of default

If you are in default on your student loans, you cannot get new loans to go back to school, and you face severe collection procedures. Consolidation can give you a fresh start. You can consolidate defaulted student loans into a direct loan consolidation and stop collections including garnishments and tax intercepts. Be aware that if … Continue reading “Chance to use consolidation to get out of default”

Make sure that you understand the financial impact

Before you start to consolidate your debts, you need to make sure that you truly understand the financial impact of loan consolidation. There are numerous companies offering various types of loan, and even overall debt consolidation as the one size fits all fix to every debtor’s worries. Student loan consolidation is being offered as the … Continue reading “Make sure that you understand the financial impact”

Lower rate with private consolidation loan

Good Way to Consolidate Private Student Loans If you have more than one private student loan from a bank or other lenders, you can make life easier by consolidating private student loans into one loan with one monthly payment. Student loan consolidation payments could end up lower than your current payments. Loan Consolidation Can Help … Continue reading “Lower rate with private consolidation loan”

Accelerate your payments as your income grows

The main and primary financial benefit of loan consolidation is simplified your payments. Rather than five, ten, or more payments every month, you have only one or two payments to make. Your options depend on many factors, including: whether your loans are federal or private (and you may have both), how much you earn, what … Continue reading “Accelerate your payments as your income grows”