Students who have several student loans may want to consolidate their loans. This will enable the student to only have a single payment to make each month. Consolidation may result in a lower monthly payment. Consolidation may increase the total amount of interest you will be paying over the life of the consolidation loan, since the repayment period is generally extended. However, you may choose to make larger payments on the consolidation loan, which will reduce your overall interest charges....Read more:Federal Student Loan Consolidation Programs
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