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What does it mean to consolidate college student loans?

April 26, 2017college consolidate mean student loans

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What does it mean to consolidate college student loans?

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Student loan consolidation saves time and money on Federal Stafford Loans. By consolidating student loans you merge all federal loans to one company, thus making it easier to manage. By consolidating student loan debts, a fixed interest rate is set for the life of the loan. This means that if/when annual interest rates increase yours won’t, which makes it advisable to consolidate as soon as possible. It is estimated that loan consolidation saves student 10-60% on expected payments.