If you have just completed college, then chances are you are facing a mountain of student Loan debt, and may feel there is no way out. You may be wondering if there is a solution or end to this nightmare. One way of dealing with this situation is to consolidate your student loan.
To consolidate your student loan to a fixed rate can be substantially better, reducing your regular payments by more than forty percent. It may also be possible to stretch the term of your payment hence reduce your monthly outgoing.
The main disadvantage when you consolidate your student loan within the six month grace period is that you must start making your payments immediately. This can be extremely awkward if you havent yet a job outside of graduation. You can wait to consolidate your student loan just before the end of the grace period, and still receive the lower rates. But remember once you have consolidated your student loans you cannot un-consolidate them, so consider your choices before committing yourself.
How is interest calculated when I Consolidate Student Loans?
When you come to consolidate your student loans, the lending firm pays off your government...
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