What is Loan Consolidation
School loan consolidation is the process of taking your current school loans, and paying them off with one new consolidation loan. Students who have gone to school for 4+ years, and received Federal student loans will have amassed a large, deferred loan balance by the time they graduate. In many instances, several types of loans will have been used, with various interest rates and monthly payments. A school consolidation loan pays off all of these loans, and gives you one, easy payment to a single lender.
- Reduces your monthly considerably.
- Locks in your interest rate.
- Simplifies your finances by having you make only one payment a month.
- Improves your credit rating.
- Saves you money today when you need it most.
- Provides flexible repayment options.