Consolidating loan school
For any college grads overwhelmed by multiple student loans, this can be extremely helpful.
Federal law sets the period of time for paying back the loans and sets a ceiling on the interest rate.
You may also have access to a new repayment schedule (like an income-contingent plan) that’s a little easier on your wallet.
If you don’t care about the extra cash and just want a consolidation for the simplicity of a single monthly payment, you can use any money you save to pay down the principal.
You will need a verified Federal Student Aid (FSA) ID as well as personal information and financial information.
Student defines these as follows: If you have only a couple more years or a few thousand more dollars to go till you pay off your student loans, consolidation is probably more hassle than it’s worth.
Search for consolidating loan school:
(There are no prepayment penalties for student consolidation loans.) On sites like Student Loans.gov, the student loan consolidation process must be completed in one single session.