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Simply put, this is the process of combining your multiple student loans into a single, bigger loan, possibly with a new lender.
You’ll no longer owe the original loans, and since this consolidated loan is new, it will come with a new interest rate, a new payment policy, and new terms and conditions.
If you are currently in debt and you’re struggling to get out, you should consider consolidating loans. Your first step is itself a copy of your credit get and determine how much debt you actually have.
For millions of people, loan consolidation is the thing that was on their feet and helped them gain control over their financial situation once and for all. In this article we will discuss how to obtain loans for debt consolidation. After all, surely you can not consolidate if you have no idea how much you owe.
Your next step is to contact your bank or credit union and ask them for a consolidation loan.