offers a “DIY” plan for reducing debt, and Fox Business suggests strategizing a payback plan and sticking to it.
lists other helpful “smart money moves” for consumers to get out from under debt.
You can’t consolidate private loans in the federal Direct Consolidation Loan program, but some private lenders allow you to consolidate federal and private loans together.
You might also have access to alternative repayment plans you would not have had before, and you’ll be able to switch your variable interest rate loans to a fixed interest rate.
Loan consolidation can greatly simplify loan repayment by centralizing your loans to one bill and can lower monthly payments by giving you up to 30 years to repay your loans.
More than 44 million borrowers owe $1.4 trillion in student loan debt in 2017.
Most of them could streamline the repayment process by consolidating their student loans. Get Financial Help Now It simplifies repayment and could save you money.
Ideally, you would qualify for debt consolidation after graduation.
However, you also could qualify when you leave school or are enrolled less than half-time.
Debt reduction services usually offer financial counseling and debt management assistance for consumers.
This includes assistance with budgeting, planning and saving.
You can find information about budgeting and money management techniques online, at your public library, and in bookstores.