| A student loan consolidation center can greatly assist | | | | After your application has been accepted, you may |
| you in managing your academic debt. These centers | | | | need to provide verification of your information |
| are staffed with professionals that understand your | | | | before it is completely processed. This verification |
| needs and how you got where you are today. They | | | | could include employment verification, verification of |
| are ready and willing to help you in any way they | | | | school enrollment, or tax returns. It really depends on |
| can. | | | | your personal situation and the student loan |
| But there is a certain amount of effort on your part | | | | consolidation center. You will definitely need to |
| as well. You cannot walk into a student loan | | | | provide your most recent statement for each of |
| consolidation center and expect that everything will | | | | your student loans. |
| be handed to you on a silver platter. There are | | | | When you application is complete and processed, the |
| applications to be made, verification to be given, and | | | | center will then draw up an agreement, which you |
| agreements to sign. | | | | must sign. This agreement will outline the amount of |
| Using a student loan consolidation center is actually | | | | money being loaned, the amount and type of |
| fairly easy. To get your application accepted you will | | | | interest, and payment terms. If a deferment is being |
| need to know the number of student loans you | | | | granted, the terms of this arrangement will be |
| have, the amount of each loan, and the interest rate | | | | outlined as well. Your student loans will not be |
| on each loan. You will also need to give information | | | | consolidated until you agree to all of the terms and |
| about yourself such as your employer, your address, | | | | sign the agreement. |
| and your financial status. | | | | At this point, your work is through. The student loan |
| Do not be afraid to apply for consolidation if you | | | | consolidation center will pay off your current loans, |
| have poor credit. Student loan consolidations are | | | | and you will only have the one loan to pay. If you do |
| much like student loans themselves in that they are | | | | not have an academic or economic deferment in |
| available to people of all walks of life. Your credit | | | | place, your payments will likely begin the following |
| score will not play a role in whether or not you get | | | | month, based on the schedule outlined in your |
| the loan, although it may play a role in determining | | | | agreement. |
| your interest rate. | | | | |