Pros of consolidating student loans Adults cam4u
Consolidating those loans into a single new one can simplify your payments, especially if your loans are with different loan servicers, the companies that oversee your payments.
But that hasn't been the case for the past decade, since the government stopped issuing student loans with variable rates.
If you consolidate your loans now, your new rate will be based on a weighted average of all your loans' interest rates.
Many students graduate with more than one student loan, and some graduate with as many as a dozen or more.
If you currently have multiple student loans, you could benefit from a consolidation loan on your student debt.
Direct consolidation loans are now the only type of federal student consolidation loan.