Consolidating stafford student loans she is dating a girl from
In the United States, the Federal Direct Student Loan Program (FDLP) includes consolidation loans that allow students to consolidate Stafford Loans, PLUS Loans, and Federal Perkins Loans into one single debt.
This results in reduced monthly repayments and a longer term for the loan.
The Department of Education would then combined those two numbers to come up with the weighted average interest rate of 1.625% 2.625% = 4.25%.
As you can see from this example, the borrower had not one but two interest rates which have now been combined into one interest rate that takes the balance(s) of the loan into consideration when calculating the new and fair weighted average interest rate.
Consolidation loans have longer terms than other loans. Although the monthly repayments are lower, the total amount paid over the term of the loan is higher than would be paid with other loans.
Here is an overview of some of the many benefits: Consolidation may not be the best option for everyone.
What is the most important is to become educated about your loans, what programs exist to help you, and then to take action on what you determine to be the best for your particular situation?
If on the other hand you need assistance and would like someone to assist you through the consolidation process, please call 844-669-4407.
This site does not negotiate, adjust or settle debts.