How to consolidating student loans
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If you’re feeling overwhelmed by your student loans, you can take comfort in the fact that you’re not alone: Over 44 million Americans have student loan debt today.
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One way to consolidate your debt is to apply for a federal Direct Consolidation Loan.
Sometimes it might even cause you to miss payments.
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.
Because the interest rate is a weighted average, rounded up, consolidation is unlikely to save you money.
Consolidation simply makes keeping track of your loans easier since you’ll have just one loan to manage and one payment to make each month. If you refinance, you can consolidate several loans into one.