Here are the answers to the most commonly asked questions about new student loan debt consolidation.
Yes, that is what our website is here for! We offer a free online application for new student loan debt consolidation. Our application is simple and will only take a few minutes to fill out. Once you do, we will provide you with a free quote on our new student loan debt consolidation services.
Simply put, new student loan debt consolidation can save you money, regardless of your student loan debt situation. Here are some of the best reasons to consolidate:
Using new student loan debt consolidation to extend your repayment term will increase your total interest expenses. This is because you are making smaller payments stretched over a longer period of time. On the other hand, we do not charge prepayment penalties, so you could pay the loan off more quickly as soon as you’re financially able to do so. In the meantime, smaller monthly payments will enable you to take care of your other bills and build financial stability. Please visit our student loan debt page if you would like more information.
The role your credit will play will vary by the type of new student loan debt consolidation service you choose. For federal consolidation loans, credit is not a factor. No credit check or co-signer is required to take out a federal consolidation loan. Private new student loan debt consolidation, on the other hand, is credit-based. This means you will need a co-signer if your income or credit doesn’t qualify you for a loan.
Most people are able to deduct the interest from their federal consolidation loan. To find out for sure, consult your accountant or tax advisor.
We offer both private and federal new student loan debt consolidation. With private consolidation loans, you will need to pass a credit check and might also be charged origination fees, depending on your credit.
