Consolidating canada student loans who is alicia douvall dating
Consolidating your federal loans separately (using a federal consolidation loan and handling private loans separately) gives you the simplicity of one monthly payment, and you’ll get a fixed rate so you always know what your payment will be.
If you have private student loans: It’s always worth shopping around to see if you can get a better deal.
However, there are other types of loans that can handle different types of debt. That means you could use a personal loan to refinance your student debt, a credit card or two, and your auto loan.
This only makes sense if you’re truly going to save money.
Look for a lower interest rate, low (or no) application and processing fees, and other terms that mean you’ll truly save money.
You only make one payment, but the payment goes to the agency, which then pays off your multiple loans for you.Refinancing can help you simplify, but it’s really about saving money.If you can get a lower interest rate (or some other advantage), you’ll be in a better position.Consolidating might also allow you to change your repayment schedule.
For example, you might be able to stretch out repayment over 25 years instead of a shorter period.For some, those benefits aren’t helpful, but you never know what the future brings, and features like deferment and income-based repayment might come in handy someday.