Student Loan Consolidation

Hello, I’m Cherry Ashwood. I’m a guidance counselor and today I’d like to talk with you about how to get your student loans consolidated. Consolidated means lumped together. And you may find that you have taken out student loans to towards the benefit of your education that what you actually have is several different loans that have been awarded to you either each semester or each year. The interest rate on these loans may all be different based on whatever the prime rates were at the time that you were awarded the loan.

There are several different companies that will offer you student loan consolidation. And what basically they do is buy your loan or loans from your original lender and usually they try an offer you either a period of deferment where you can delay payments or a lower interest rate. I personally have several student loans that I’ve have consolidated and I have a beautiful low interest rate of something like 3.5%. It gives you a lower monthly payment and a lower loan amount that I’ll end up paying in the end when I finally do get them paid off. So loan consolidation is a very good idea also to be offered a fixed interest rate.

Sometimes your other student loans may be on variable interest rate and as that interest rate varies so does your payment. So, as soon as possible and a lot of companies will consolidate your student loans even before you graduate, you want to find a good reputable student loan consolidation company and get your loan consolidated. I’m Cherry Ashwood. I’m a guidance counselor. And your future starts today.