Purpose of consolidating student loans

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WARNING: It is very dangerous to consolidate federal loans into a private consolidation loan.You will lose your rights under the federal loan programs once you choose to consolidate with a private lender.Understanding all the benefits will help you make a good financial decision.Here is an overview of some of the many benefits: Consolidation may not be the best option for everyone.As you weigh the pros and cons, keep in mind that timing is critical.

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There are quite a few good reasons to consider consolidating your federal student loans.If you're like most people, you need to figure out a strategy for paying off loans.While it would be a lot easier to just pay cash for most things, the reality is that most of us don't have several hundred thousand dollars lying around.Consolidation programs exist for both federal and private student loans, but the purpose of this page is to discuss federal student loan consolidations.For more information of private student loans, click here. W Bush first passed the Direct Loan program in 1992, as an amendment under the Reauthorization of the Higher Education Act.

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