Consolidating Student Loans

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Should I consolidate my student loans?

Consolidating Student Loans

Once you graduate college and begin working in "the real world," it doesn't take long to realize how cumbersome those student loans that paid for your education are. These loans were great when you didn't have to pay them back and when you were spending them on education, but now that you have to go to work everyday and write several checks each month to pay them, they can be quite a pain.

A student loan consolidation calculator is a tool that can help you find out what a difference a loan consolidation could make in your interest expenses on your student loans. By consolidating your loans, you can reduce the rates of some or all of them and save thousands of dollars each year on interest, all while making your monthly accounting easier by reducing the number of checks you need to write. This can also save you money because you run a reduced risk of forgetting one of the loans and triggering a late fee or interest rate increase.

So when you notice that student loan rates are lower than the rates you're currently paying, try a student loan consolidation calculator and find out the difference it could make in your life.

   

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