Read this tip to make your life smarter, better, faster and wiser. LifeTips is the place to go when you need to know about Student Loan Consolidation and other Student Loan topics.
If you have a number of outstanding student loans, it may be easier to manage the debt if you combine them into one loan with one monthly payment. This is known as a student loan consolidation. After reviewing student loan consolidation rates, you can consolidate federal student loans that have variable interest rates and convert them into a fixed rate loan for a longer period of time. This can help you lower your monthly student loan debt obligation while ensuring that the payment will not increase because of a change in the interest rate.
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Jennifer Mathes, Ph.D. |