Loan Consolidation - Various Types

Discuss consolidating either federal or private loans, for undergraduates or graduates.

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Loan Consolidation - Various Types

Postby Tomica2k7 » Tue Aug 07, 2012 12:04 pm

I have accrued loans of all types i.e. Federal loans subsidized and unsubsidized stafford loans. I have a debt of about 48,000. Most are still in grace period and a couple in forberance because I was trying to consolidatate them all to make one payment. They are all in good standing, and I want to keep it that way to lower my debt-to-ratio to try to buy a home the next couple of years. I have heard feedback that direct loans are not always the best plan. What do you recommend I do to be most effective and less cost effective?
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Re: Loan Consolidation - Various Types

Postby pahern11 » Wed Aug 08, 2012 8:51 am

I would recommend trying to consolidate your loans. Doing so will enable you to repay your loans with a lower interest rate over a longer period of time. In addition, there is no penalty for making early payments on your loans.
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Re: Loan Consolidation - Various Types

Postby alicenathan » Thu Mar 07, 2013 5:06 am

If you've managed to accumulate a large amount of debt, you may have considered a debt consolidation loan to give you some relief. With a debt consolidation loan, you combine all your high interest rate debts into a single, lower interest rate loan. Combining your debts with a debt consolidation loan allows you to lower your monthly payment and makes
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