Consolidating undergraduate graduate loans
Multiple loans are more expensive in the long run, and the more bills you have to keep track of the more likely you will be to miss a payment.
A consolidation loan can be the answer to your student debt woes.
When you consolidate through the federal government program, you can only consolidate federal loans into a new loan with a fixed interest rate, which is determined by averaging your current rates.
When you consolidate privately with the Education Refinance Loan from Citizens Bank, you can consolidate both federal and private student loans into a new loan with your choice of either a variable or fixed rate.
However, there is a way to mitigate some of that student loan burden.Many borrowers will refinance and consolidate their student loans in order to get a lower interest rate.If you took out student loans each year of college, it's likely that some rates are higher than others.Student loan consolidation allows borrowers to combine multiple loans into a single, new loan with a new interest rate, repayment options and terms.It's important to keep in mind that there are distinct federal and private options for consolidating student loans.