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Debt Management Tips - Loan Consolidation

By consolidating your student loan debt into one loan, you may avoid having to make multiple monthly payments to various lenders. You may consolidate the following undergraduate and graduate loans: Federal Perkins Loan, Federal Unsubsidized and Subsidized Stafford Loans, Federal Direct Loans, Health Professions Loans and/or Federal Nursing Student Loans.

A consolidation loan may:

  • Extend repayment up to 30 years
  • Lower your monthly payments
  • Have higher interest costs using a weighted average of your loans
  • Not qualify for certain deferments
  • Not include private loans and other consumer debts
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