Purpose of consolidating student loans
Under certain circumstances, federally backed student loans – such as Direct Subsidized Loans and Federal Perkins Loans – can be discharged or forgiven.The prospect of your student debt evaporating may seem like a dream come true.You can lock in lower interest rates, reduce monthly payments, or get rid of debt faster.It’s important to be clear on which benefits are most important to you. Whom do I contact if I have questions about consolidation?There is no cap on the interest rate of a Direct Consolidation Loan.
There are some great reasons to refinance student loans.
Debt consolidation means taking out a new loan to pay off a number of liabilities and consumer debts, generally unsecured ones.