Loan Consolidation For Private

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Posted on November 09, 2018 at 23:29 PM

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Loan Consolidation | Federal Student Aid
Loan Consolidation. A Direct Consolidation Loan allows you to consolidate (combine) multiple federal education loans into one loan. The result is a single monthly payment instead of multiple payments. Loan consolidation can also give you access to additional loan repayment plans and forgiveness programs.
Federal vs. Private Student Loan Consolidation: What's the ...
One big benefit of private student loan consolidation is the ability to refinance and potentially secure a much lower interest rate. In the case of refinancing, your rate will be based on your creditworthiness rather than a weighted average.
A Direct Consolidation Loan allows you to consolidate multiple federal education loans into one loan at no cost to you. Through your completion of the free Federal Direct Consolidation Loan Application and Promissory Note, you will confirm the loans that you want to consolidate and agree to repay the new Direct Consolidation Loan.

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