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However, there is a possibility that they could include a school using illegal recruiting tactics – for example, guaranteeing the student a well-paid career. Department of Education promised debt relief to students of the bankrupt for-profit Corinthian Colleges schools (click here for more information on how to apply).

When you consolidate multiple student loans or refinance a single student loan, you may receive a lower monthly payment with a reduced interest rate or an extended repayment term.

Private student loans can be consolidated with other debt in some case – for example by rolling them into a home equity loan (see below).

The Student Loan Prepayment Calculator helps you determine how much extra you must pay each month to eradicate your debt by a certain date.

You can also calculate how much faster you’ll pay off your student loans by making extra payments — as well as how much interest you’ll save.

That’s why we decided to use this blog post to explain exactly what student loan consolidation is and whether or not it’s the right thing for you. How does student loan consolidation differ from the other types of debt consolidation?

By definition, consolidation means combining many loans into one single loan.




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