Consalidating student loans
The loan term will be 30 years, which is likely to reduce your monthly payment amount by stretching out the loan term.
If you want a lower monthly loan payment, consolidating your student loans will likely do that for you.
Like a fixed rate mortgage, this means your interest rate stays the same, keeping your monthly payment amount consistent.
When we’re talking about a Direct Consolidation Loan, the answer is no.
However, there are some options for refinancing or consolidating your federal and private student loans.
Are you tired of making multiple student loan payments each and every month?
At Lending Tree, we understand it can be difficult and time-consuming to keep track of all your different student loan payments.