who was jennifer hudson dating during american idol - Consolidating loans with different interest rates

(I'm personally a fan of Common Bond, but of course, I'm biased.) Don't hesitate to reach out if you want to learn more about your options. Common Bond is also the first company to bring the 1-for-1 model to education and finance.

However, Brian Mc Bride, an associate producer at CNN and a 2010 graduate out of Arizona State University, managed to pay off ,500 in debt in just two years. Mc Bride owed ,500 in student loan debt and ,000 for his 2003 Honda Civic.

With many private lenders, you can consolidate both private student loans and federal student loans separately or together.

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You have some flexibility in picking your loan term, but you'll simply receive an interest rate that's a weighted average of your existing rates.

You can only consolidate federal, not private, student loans through this program.

After consolidating his or her loans, a borrower will have just one monthly payment and just one loan balance to maintain.

Many students will get federal loans for each year in school and will graduate with more than one loan to repay.

First, what does consolidating student loans really mean?

If you're consolidating with the federal government, consolidating your loans means combining your multiple federal student loans into one new federal loan, called a Direct Consolidation Loan.This Huffington Post piece can help you pick the best type of consolidation loan in just five steps.Your new loan will come with whatever borrower protections your new lender specifies.A federal Direct Consolidation Loan has a fixed interest rate based on the average interest of your federal loans rounded up to the nearest one-eighth of 1 percent.When even the basic term "consolidation" means different things for different lenders, the process can understandably seem daunting.If you're consolidating with a private lender, consolidating your loans means combining and refinancing your loans into one new private loan.

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