| You did it | | | | One thing you must do before you consolidate |
| Finally, you've completed your education and now | | | | student loans is to research the market and pick the |
| you are facing a mountain of student loan repayment | | | | best option. |
| notices. They might or might not be from the same | | | | Federal law |
| lender, and possible they come from more than one | | | | Federal law mandates that a borrower have to |
| degree from different universities. Right now you | | | | consolidate with the lender that lends the loans if the |
| should be considering consolidation of student loans | | | | borrower has all loans with the same lender. If they |
| that dry out you wallet. | | | | are held by more than one lender, the borrower is |
| Necessary evil | | | | free to consolidate with any of the lenders that are |
| Student loans are a necessary evil for students who | | | | in the federal student loan consolidation program. |
| can't afford to pay for their education expenses. It is | | | | Consolidate once |
| definitely a better alternative to loan money, than it | | | | Borrowers may only consolidate once. Depending on |
| is to charge a credit card with shameful interest | | | | the lender there may be additional fees involved. |
| rates. But when those interest statements and | | | | Some companies advertise absurdly low interest |
| payment notices start coming in you mail, it can be a | | | | rates or reduction of payment, fast approval, or |
| bit scary. | | | | other incentives. Be aware of them and make sure |
| Extra money | | | | you read the fine print on all your offers for |
| Remember the semester where you had to borrow | | | | consolidation of student loans. |
| a little extra money? Maybe you could not work as | | | | The student loan consolidation solution |
| much in that period or because of other reasons. You | | | | Consolidation of student loans may sound like it is |
| got to eat right. Food is one of those things that you | | | | difficult, but it is not. If all your loans are held at the |
| simply cannot live without. Unfortunately, not all that | | | | same lender it shouldn't be hard. Like student financial |
| money was spent on necessities. Be honest now. | | | | aid that has come from Department of Education or |
| Which is why you're properly now are facing your | | | | Sallie Mae Loans are easy to consolidate. The process |
| student loan statements in total denial. I am sure it | | | | can be started online for your convenience. There |
| was a fun time back then. | | | | are some good incentives offered: reduction of |
| Avoid paying more interest | | | | interest rate up to 2% after 24 repeated withdrawal |
| Of course you have already received solicitations | | | | payments. Consolidation of student loans is a vital |
| from lenders that have their main focus on | | | | financial decision. Select it with as much care as when |
| consolidation of student loans. You should consider | | | | you picked a college major and applied for a student |
| this. Avoid paying more interest than you have to. | | | | loan. |