Consolidating school loans good idea

This may not sound that bad until you realize how much more you will actually pay in additional payments. Commit to getting on a written game plan and sticking to it.

You will now pay $46,080 to pay off the new loan versus $40,392 for the original loans, even with the lower interest rate of 9%. Get an extra job to bring in more money, and start paying off the debt.

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Myth: Debt consolidation saves interest, and there’s one smaller payment.

Finding the right bank to refinance or consolidate your student loans is confusing.

Last modified 24-May-2016 01:53