Pros of consolidating student loans
This can go on for several years after you graduate from college.In trying to stay on top of their debt, many individuals consider consolidating their student loans. When you consolidate your student loans, you take multiple student loans and convert them into one single loan.
While this means you have fewer details to remember, sometimes, the new rates and terms and conditions may not be as beneficial as the original rates and terms.
You may lose some borrower benefits: If you decide to combine all your loans, you may lose certain borrower benefits.
For instance, with your original federal student loans, you may qualify for loan forgiveness.
College may be over and done with (or nearing it), but your student loan balance is far from.
Graduation day, in fact, marks the beginning of our real journey towards financial freedom, and it all starts with paying off your debt.