Consolidating school debt

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They were excited about finishing up their first year of school (especially gross anatomy).

As you can imagine, our conversation turned towards their finances.

So if you have multiple federal student loans with different servicers or due dates, consolidation may make better sense for you.

Student loan servicers collect your student loan bills and keep track of whether you pay them on time.

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Depending on your situation, you can choose to consolidate all of your federal student loans, some of them, or even just two, while leaving the others as is.

There are two main types of student loans: Each loan type has its own pros and cons and it’s important that you weigh out each one before deciding on consolidating.

I personally strive to keep things in my life as simple as possible.

Your monthly payment would decrease but the total amount of money paid out would also increase.

This is exactly what can happen when you consolidate your student loans.

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