Pros and cons of consolidating federal student loans
Let’s assume your credit card charges 18% APR, for example, and you qualify for a personal loan with a 12% APR.
In this situation, it might (theoretically) make sense to take out a personal loan, use this money to pay off the credit card, and then start chipping away at repaying the personal loan with much lower interest.
You won’t have to worry about various payment dates and amounts.
While going to college is surely something to be proud of, and is a great investment in your future, most students and their families are unable to pay for it out-of-pocket.
Refinancing your student debt is just like your car or home mortgage.
With an average balance of ,400, student debt is a big part of the average college graduate's life.
At Lend EDU, we help borrowers compare the top student loan companies in one place.
We put together this guide to help you get information on all of the top student loan refinance lenders without having to jump around multiple websites.
After you are done, you will know how to refinance and consolidate student loans. You may now have a general idea of how to refinance student loans and how to consolidate student loans, as well as the basics of what each lender offers, but there is much more information you should know before choosing a lender.
Search for pros and cons of consolidating federal student loans:
After all scholarships and grants have been exhausted, the next option is student loans.