Consolidating private loans into direct loans

Carnegie Mellon University Columbia University Cornell University Dartmouth College Duke University Emory University Georgetown University Georgia Institute of Technology Harvard University Massachusetts Institute of Technology New York University Northwestern University Stanford University University of California, Berkeley University of California, Los Angeles University of Chicago University of Michigan, Ann Arbor University of North Carolina - Chapel Hill University of Pennsylvania University of Southern California University of Texas at Austin University of Virginia Vanderbilt University Yale University - Source There are similar outfits like CUStudent but they have limitations as well.Then there are the private student loan lenders like Wells Fargo that would love to consolidate your loans into yet another private student loan.Simply put, this is the process of combining your multiple student loans into a single, bigger loan, possibly with a new lender.You’ll no longer owe the original loans, and since this consolidated loan is new, it will come with a new interest rate, a new payment policy, and new terms and conditions.Private student loans just don't have the same payment adjustments based on income like a government loan does.

It is quite possible your monthly payment after consolidation may be the same or higher than what you are currently paying.Please post your responses and follow-up messages to me on this in the comments section below. The Simple strives to keep its information accurate and up to date.In my book they are among the worst possible types of debt to have.They are not much better than a noose around your neck and for many, their dream careers are scuppered the moment the debt is incurred because they have to find any job and not the kind of job they studied for, just to make the loan payments.Recommended Student Loan Refinancing Companies The average college grad leaves school with ,000 worth of debt.

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