Student Loan Consolidation – Is It Worth To Do It?

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Definitely YES!Life after graduation can get very expensive. With all the living expenses tied into post grad life, including housing costs, car payments, possible relocation and expenses related to your career, why worry about a huge student loan payment? Student Loan Consolidation can reduce your monthly payment, and help you manage your budget.Take advantage of these benefits:
Reducing your monthly payment up to 53%
No fines for early repayment
Improving your credit score
Simplifying your monthly bill-paying paperwork with one payment a month
No credit check, no co-signers needed, and no fees
Consolidation loan interest is Federal Income Tax Deductible
If you answer YES to one or more questions below then you should consider consolidating your student loan.Do you have problem our monthly payments manageable? If you have trouble doing your monthly payments in timely fashion, and/or want to avoid default, a student loan consolidation may help you. You will only have to take care of one payment instead of several payments with it’s own due dates.Too many monthly payments driving you crazy? If you send payments to more than one lenders every month, and want the convenience of a single monthly payment, consolidation may be right for you.Do you have to pay variable high interest for your loans? Then you may want to consolidate. The interest rate for a consolidated loan is fixed for the life of the loan. The rate is based on the weighted average interest rate of the loans being consolidated, rounded to the next nearest higher one-eighth of one percent and can not exceed 8.25 percent.However if you are close to paying off your student loans, it may not be worth the effort to consolidate or extend your payments.