Consolidating sallie mae loans federal loans

Posted by / 26-Aug-2017 11:44

The last thing you want to do is consolidate your loans into a repayment plan that ends up costing you more!

Student loan refinancing: Refinancing is when a student loan lender buys out your existing loans, and gives you a single new loan with a potentially lower interest rate.The first step in working toward Public Service Loan Forgiveness is to ensure a borrower has eligible federal student loans.Because only Federal Direct loans are eligible for PSLF, only payments made on Federal Direct loans count toward the required 120 qualifying payments -- and only these Federal Direct loans will be forgiven.Combining student loans doesn’t just simplify the payment process – it makes it easier to maintain control over the financial future.We break down the consolidation process into four basic steps: Private student loans and federal student loans have separate consolidation procedures.

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This eliminates the nightmare of juggling multiple payments at different interest rates.

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