Can i save money by consolidating my student loans


25-Jul-2017 07:41

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We start by discussing the basics of student loan consolidation and refinancing, and comparing the benefits and drawbacks of federal and private consolidation loans.We then detail a step-by-step guide to using and choosing consolidation loans.Some lenders require that the borrower’s debt-to-income ratio be below a certain threshold.

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Borrowers with a poor credit history may still be able to qualify if they can secure a cosigner with good credit.

It takes borrowers an average of 21 years to repay their student loans, while 28% of students are in default (or miss payments for 270 days or more) within five years of entering repayment.