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Consolidating parent plus loans to student

If you have federal student loans and a) have too many different payments to keep track off or b) would like to qualify for different repayment plans like income-driven repayment or Public Service Loan Forgiveness, consolidation might be a good idea!

Consolidating your federal loans will give you the opportunity to consolidate multiple loans into one (lower) monthly payment, and also let you choose a new repayment term and repayment plan.

Learn more about whether refinancing is right for you.You can find each lender below, along with information on rates, terms, and other key details. But remember, lowering your monthly payments could mean that you end up paying more in interest overall.Student loan refinancing: Refinancing is when a student loan lender buys out your existing loans and gives you a single new loan with a potentially lower interest rate.So if you feel like your interest rate is too high, refinancing could help.This process will also combine all the loans you refinance into one convenient payment.If you can lower your interest rates, more of your money can be used to reduce your debt, instead of paying off only your interest.Refinancing doesn’t guarantee lower payments, but it could help you get a lower interest rate and enable you to pay off your loan faster.Answer the questions below to see if consolidating or refinancing your student loans is a better option for you.Juggling multiple student loans can be complicated, especially if you’re making payments to different loan servicers.If you answered “yes” to all of these, you might want to look into consolidating your loans.If you’re more concerned about lowering your interest rate, private student loan consolidation, or refinancing, might be the better option for you.

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  1. What is a parent PLUS loan and how do you apply for one? How do you refinance parent plus loans? A guide to everything you need to know.

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