Consolidating loans definition


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If you’re a college student or recent graduate, then you’ve probably thought more about student loans and how to pay them off than you’d like.

With so much information out there, it may be difficult to figure out your best course of action.

The process of taking out a loan that pays off two or more loans.

Debt consolidation often comes with a lower monthly payment and/or interest rate than the previous loans, as well as a longer repayment period.

That’s what our Student Loan Smarts series is all about—helping you understand all of your options so you can make decisions that fit with your financial goals. Choosing to consolidate or refinance student loans.