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With variable interest rate private student consolidation loan, the situation is a bit different.
As you already know, there are mainly two ways to consolidate your loans.
By consolidating your student loans, you are basically combining them all into a brand new, single student loan.
Which means that instead of having to keep track of multiple student loan payments every month, you will be able to focus only on a single loan payment, which can ultimately reduce part of your financial stress, as well as make it easier for you to make your payments on time.
You may choose between consolidating your student loans through a federal or a private loan lender. With federal student loan consolidation, you are able to consolidate pretty much any federal loan by using a direct consolidation loan program.
You should, however, keep in mind that you will not be able to include any of your loans from private lenders as well as any of your PLUS loans, that have been borrowed by your parents on your behalf.