#student loan consolidation calculator
Student Loan Consolidation: Help or Hindrance?
With 37 million Americans in debt due to student loans, many find themselves panicked over the number lurking behind a dark cloud. And when there is panic, impulsive decisions are often made (followed by regret and remorse). Student Loan Consolidation is an area of great interest simply because borrowers are looking for ways to simplify and lower their monthly payments. But before you begin your search for student loan consolidation options, there are a few factors to take into consideration.
- Student loan debt consolidation is not always the best choice. We suggest enlisting a professional company like Student Loan Relief to help you determine if you are best suited for consolidation, because it’s easy to get caught up in buzzwords and marketing mumbo-jumbo. Many companies will make big promises, but what they fail to mention are the conditions that apply. Bottom line: You don’t want to end up increasing the length of your payment period and thus, making more payments and shelling out more interest.
- Most federal student loans qualify for consolidation, while private do not.
- On average, a loan that has been consolidated once before cannot undergo student loan consolidation again. There are some exceptions, however, which is why a company like Student Loan Relief is important to help you navigate through loopholes.
- Although there is a fixed interest rate for the life of a Direct Consolidation Loan, there is no cap.
- There are a number of repayment plans available in order to accommodate each individual borrower.
- Student Loan Consolidation is good for those who have multiple loans and low income. Let us help you compare your original loan benefits to the benefits you would be receiving after consolidation, as well as provide assistance in reevaluating your budget.
- Call 877-274-5163 to learn more about the pros and cons of student loan debt consolidation, and whether it can help or hinder you in the repayment process.
At Student Loan Relief, our goal is to ensure you are not the victim of shady ‘debt relief’ scams that are so prevalent in America today. Remember, if it sounds too good to be true, it probably is. And if you’re on the fence about consolidating, call us first before making any decisions. Our experts are standing by to guide you each step of the way.
What are you waiting for? Call or Contact Us Today!