Consolidating federal student loans may be a good strategy to lower monthly payments or to get out of default, but it is not always a good idea.
Each lender has its own specific underwriting criteria, so you may have a higher chance of approval at certain lenders.
Student loans usually appear on a credit report as multiple loans, but that doesn’t look bad to lenders.
With just a few exceptions, you get only one chance to consolidate with the government loan programs.
WARNING: It is very dangerous to consolidate federal loans into a private consolidation loan.
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When you access your account and perform transactions on the Discover site we use 128-bit-Secure Sockets Layer (SSL) encryption technology-the most widely used method of securing internet transactions available today.The picture painted by these statistics is clear: many borrowers are in over their heads with student loan debt and are looking for relief.Student loan consolidation or refinancing can be a great tool to use for those looking to save on, or simplify, their monthly payments, but going that route can also have serious consequences if not approached carefully – there are even student loan consolidations scams to be aware of.You may pay more in the long run, but for now, you’ll be able to make just one monthly payment – and it may be considerably lower than your current loan payments.Student loan debt is a grave concern in modern America.For such installment loans, the important factors are how much total debt you owe and, of course, most importantly if you have missed any payments. It can be helpful if you have education debt from multiple lenders or student loan guaranty companies.