One advantage of this approach is that if you pay off student loans with this loan, you now have bankruptcy protection on the debt.If you go through , you can also see to it that the interest from your loan goes to regular people instead of big banks. Federal Student Loan consolidation can only be done here.As you can imagine, a record of debt repaid is a good thing.
don’t expect the a company salesperson to volunteer the information unless they think you’re about to switch to a different carrier.There are many companies looking to take advantage of people struggling with their student loans.It is critical that you do your research before you make any student loan consolidation decision.Student loan consolidation is a great way to improve your credit score and lower your monthly payments.
However, it is very important to look at the terms of your new consolidated loan to make sure that you are really getting a good deal.
You still have the same amount of debt, but the number of lines of credit goes down, thus raising your score.