Consolodating school loans

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Federal student loans offer many benefits compared to other options you may consider when paying for college: Before you take out a loan, it’s important to understand that a loan is a legal obligation that you will be responsible for repaying with interest.

You may not have to begin repaying your federal student loans right away, but you don’t have to wait to understand your responsibilities as a borrower.

Here are some frequently asked questions and answers that may help determine if it's the right move for you.

More than 44 million borrowers owe

Federal student loans offer many benefits compared to other options you may consider when paying for college: Before you take out a loan, it’s important to understand that a loan is a legal obligation that you will be responsible for repaying with interest.

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Federal student loans offer many benefits compared to other options you may consider when paying for college: Before you take out a loan, it’s important to understand that a loan is a legal obligation that you will be responsible for repaying with interest.

You may not have to begin repaying your federal student loans right away, but you don’t have to wait to understand your responsibilities as a borrower.

Here are some frequently asked questions and answers that may help determine if it's the right move for you.

More than 44 million borrowers owe $1.4 trillion in student loan debt in 2017.

The decision whether or not to consolidate can be tricky.

There are many different factors for students to consider in order to ensure that they’re making the right choices for their families and their wallets.

These are just a few of the issues to keep in mind when students, or former students, are contemplating consolidation.

I've finished college and have a good job now but don't make enough to pay back all these individually every month.

.4 trillion in student loan debt in 2017.

The decision whether or not to consolidate can be tricky.

There are many different factors for students to consider in order to ensure that they’re making the right choices for their families and their wallets.

These are just a few of the issues to keep in mind when students, or former students, are contemplating consolidation.

I've finished college and have a good job now but don't make enough to pay back all these individually every month.

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You can’t consolidate private loans in the federal Direct Consolidation Loan program, but some private lenders allow you to consolidate federal and private loans together.

The Direct Consolidation Loan program is the right choice if your goal is to simplify the process and keep your options open for the many repayment plans available for federal loans. Your rate is determined by the weighted average of the interest on the loans being consolidated rounded up to the nearest one-eighth of 1%.

People who are working in the public sector or taking advantage of federal debt relief programs such as income-based repayment or public service forgiveness may not want to refinance, as these programs do not transfer to private refinance loans.

Federal law sets the period of time for paying back the loans and sets a ceiling on the interest rate.

Private consolidation lenders, on the other hand, are not subject to those terms and may include variable rates and any number of fees.

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