Current interest rate for consolidating student loans
In cases like this, consolidating your student loans could help you manage your loans more efficiently. Here’s what to keep in mind before you dive into student loan consolidation.
If you have multiple federal student loans and want to simplify your payments, consolidating can be a smart strategy.
This can make keeping track of your total debt, minimum payments, and monthly due dates confusing.
Sometimes it might even cause you to miss payments.
Often, Direct Consolidation is required in order to enroll in federal programs such as income-based repayment.For instance, you might be able to get a much lower interest rate and shorten your repayment term.Although consolidating won’t save you money, it can make repaying your loans easier.Our team at Student Loan Hero works hard to find and recommend products and services that we believe are of high quality and will make a positive impact in your life.We sometimes earn a sales commission or advertising fee when recommending various products and services to you.