Consolidating college access loans

Consolidation will greatly reduce the number of payments you have to make each month.

You may still have more than one payment, but it will be less confusing.

If you’re a Stevens graduate student repaying multiple student loans, you may want to consider loan consolidation to simplify your monthly loan payments.

Learn more about the pros and cons of loan consolidation below.

Options also exist for consolidating your private student loans.

Your private loans cannot be consolidated with your federal loans, and the low interest rates that apply to federal loans are not available for private loans.

In most cases, there’s no way to avoid paying back those loans.

After you determine that you don't qualify to have your loans forgiven, it's worth investigating strategies that can keep interest and payments on student loans to a minimum.

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The advantages of loan consolidation may include: For full information on Direct Consolidation Loans, visit or call the Loan Consolidation Information Call Center at 1-800-557-7392 before you apply.Mostly this involves some form of consolidating your loans into one or two monthly payments that are easier to handle and keep on top of. Some people with federal loans are eligible for partial or full loan forgiveness (you don’t have to pay back the money you borrowed).For example, teachers with certain federal loans who spend five years teaching in an underprivileged school may qualify. Other circumstances may qualify you for forgiveness.You may, however, be able to obtain a lower interest rate for your private loans through consolidation if your credit rating has changed significantly since you first obtained the loans.For more information about consolidating private student loans, visit our school's Historical Lender List, and select Private Consolidation to see different options.Fin Aid’s student loan debt clock shows that at the time this article was posted, total debts exceeded

The advantages of loan consolidation may include: For full information on Direct Consolidation Loans, visit or call the Loan Consolidation Information Call Center at 1-800-557-7392 before you apply.

Mostly this involves some form of consolidating your loans into one or two monthly payments that are easier to handle and keep on top of. Some people with federal loans are eligible for partial or full loan forgiveness (you don’t have to pay back the money you borrowed).

For example, teachers with certain federal loans who spend five years teaching in an underprivileged school may qualify. Other circumstances may qualify you for forgiveness.

You may, however, be able to obtain a lower interest rate for your private loans through consolidation if your credit rating has changed significantly since you first obtained the loans.

For more information about consolidating private student loans, visit our school's Historical Lender List, and select Private Consolidation to see different options.

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The advantages of loan consolidation may include: For full information on Direct Consolidation Loans, visit or call the Loan Consolidation Information Call Center at 1-800-557-7392 before you apply.Mostly this involves some form of consolidating your loans into one or two monthly payments that are easier to handle and keep on top of. Some people with federal loans are eligible for partial or full loan forgiveness (you don’t have to pay back the money you borrowed).For example, teachers with certain federal loans who spend five years teaching in an underprivileged school may qualify. Other circumstances may qualify you for forgiveness.You may, however, be able to obtain a lower interest rate for your private loans through consolidation if your credit rating has changed significantly since you first obtained the loans.For more information about consolidating private student loans, visit our school's Historical Lender List, and select Private Consolidation to see different options.Fin Aid’s student loan debt clock shows that at the time this article was posted, total debts exceeded $1.2 trillion.

.2 trillion.

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