| It's time to consolidate your student loans and you | | | | Using the Calculator |
| want to know exactly what to expect. You can | | | | You will need to enter the loan amounts and interest |
| always contact a lender by phone to discuss terms | | | | rates for your outstanding loans. Sometimes you will |
| and have them try to sell you on consolidating with | | | | be able to enter the total amount of your loans |
| their programs. You can visit your local banks and | | | | combined to do this step. You need to make sure |
| financial institutions to see what deals they offer. The | | | | you enter your base interest rate for the |
| easiest way to get payment information on your | | | | consolidation loan. There is usually a section where |
| potential consolidation loans is by going online to find | | | | you enter the duration for repayment so you can |
| a loan calculator. There are a number of websites | | | | get a better idea of how much each installment will |
| that have this feature and it is easy to use. | | | | be. Finally, you click the 'calculate' button and get all |
| Knowing the Difference | | | | the information you need. |
| When you are looking at consolidation you will find | | | | You should be aware that the information from online |
| that lenders offer a variety of similar interest rates | | | | student loan consolidation calculator. It is considered |
| to attract borrowers. Small differences in | | | | as estimates of the actual amount. There may be |
| percentages can make a big difference in payment | | | | fees, charges or a change in rate that will affect |
| so you need to know how much those little points | | | | your particular repayment. Your credit will also affect |
| will cost you. The student loan consolidation calculator | | | | the consolidation loan you get if you are consolidating |
| takes into account your loan amount, percentage for | | | | private loans. |
| interest and term for repayment. | | | | |