Consolidating college loans federal

Each one of these student loans has its own due dates, interest rates and payment amounts.Keeping track of that many payments is complicated and part of the reason that 8 million Americans have defaulted on over 0 billion in student loans That is why student loan consolidation appears as such an attractive solution, but there are things you should know as you consider this approach.

There are many different benefits and drawbacks of what each student loan consolidation and refinancing lender offers, and it is important to be aware of all of them.The definition of loan consolidation in a nutshell, is this: One loan, one payment, one lender.It’s simple, efficient and practical, but there are some negatives, not the least of which is that you could end up paying much more in interest by the time you’re finished.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.

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