Student Debt Consolidation Loans
Students need money for Various Purposes Like
Books
Tuition fees
Clothing
Research
Entertainment
Once they start taking loans there is high probability that students can get tangled in loan trap
here Student Debt Consolidation Loans come into Picture .
Federal Family Education Loan (FFEL) Programs and the Direct Loan Program have one act to rescue .The Higher Education Act (HEA) provides for a loan consolidation program .
In these programs, All old Loans are paid to create a new consolidation loan .
Advantages of Student Debt Consolidation Loans
One Loan term
one interest Rate
lower interest rates
monthly payment
manageable debt
less probability to default.
Extend repayment term to up to 30 years with some lenders
Retain federal borrower benefits
Flexible repayment options with most lenders
Students need money for Various Purposes Like
Books
Tuition fees
Clothing
Research
Entertainment
Once they start taking loans there is high probability that students can get tangled in loan trap
here Student Debt Consolidation Loans come into Picture .
Federal Family Education Loan (FFEL) Programs and the Direct Loan Program have one act to rescue .The Higher Education Act (HEA) provides for a loan consolidation program .
In these programs, All old Loans are paid to create a new consolidation loan .
Advantages of Student Debt Consolidation Loans
One Loan term
one interest Rate
lower interest rates
monthly payment
manageable debt
less probability to default.
Extend repayment term to up to 30 years with some lenders
Retain federal borrower benefits
Flexible repayment options with most lenders
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