It’s not a secret that obtaining a college education costs a lot of money. Money that you’re required to pay back after a six-month grace period from graduation. Keeping track of multiple payments is difficult. For some, consolidating student loans is more beneficial.
Student loan consolidation means combining multiple loans into a single, new loan
If you borrowed money for college, you could have as many as 10 separate lenders. Each lender will request payment amounts with due dates and interest rates. A student loan consolidation simplifies finances since you only need to keep track of one bill each month.
If you’re wondering if consolidating federal student loans is in your best interest, check out the pros and cons gathered by debt.org.
We’ve partnered with LendKey to not only help member’s finance their college education, but to make it more feasible to pay back. For more information, stop in and see us or call 877-794-6712.