Consolidating student loans already consolidated

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Consolidating allows you to merge multiple eligible loans into a single loan.Before you consolidate, consider the following pros and cons: Note: Just remember, you must continue making payments after submitting your application until you receive notice from your servicer that underlying loans have been paid off.We only evaluate lenders and do not issue student loans.This report was not chartered by or created on behalf of any lender listed below.

By extending the repayment term, you can significantly reduce the amount of money you’re required to pay each month.While federal student loans are fixed-rate, private loans can be either fixed-rate or variable.At first glance, variable rates may look appealingly low — 2.25 percent or 3.25 percent — compared to fixed-rate loans that ask for 6–7 percent interest.When you apply, most banks and lenders will look at your credit score, annual income, savings, and college degree type (or certificate of enrollment if still in school).If you meet these requirements, you might be an excellent candidate for student loan refinancing and consolidation!

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