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Key takeaways. Direct Consolidation Loans and private student loan refinancing helps make federal student loans more manageable by rolling several balances into a single loan product.
Federal student loans are eligible for consolidation through the U.S. Department of Education’s Direct Consolidation Loan program. Private student loans can be combined through a process more ...
Student loan consolidation may be a good fit if you: You have high-interest private student loan debt. Your new loan (whether federal or private) carries a much lower APR than your current student ...
If you have student loans with multiple loan servicers, consolidation is one option to simplify loan repayment while potentially lowering your monthly amount due. Student loan consolidation ...
The Federal Loan Consolidation Program was created in 1986. In 1998, the United States Congress changed the interest rate to the aforementioned fixed rate weighted mean, effective February 1, 1999.
Consolidation can streamline your student debt and reduce your monthly payment. But it's not for every borrower.
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