If you are a college student or a fresh graduate, you must have thought about how to repay your student loan debt. With so much information out there, it can be overwhelming for a young individual to decide what kind of loan repayment plan they should choose or how they can avoid wage garnishment.
Student Advisors exists to assist borrowers with these important decisions. We provide you all the possible options you can use to repay your student loan debt quickly and achieve a debt-free future. One of our recommended options is loan consolidation. It allows you to combine all your student loans into a consolidated loan and repay them in an organized manner.
To help you develop an understanding of the process, we are listing its benefits and eligibility requirements.
The loan repayment term can also be extended with loan consolidation, which consequently results in lower monthly payments. Almost all federal student loans and some private student loans can be consolidated after fulfillment of the eligibility requirements.
The borrower may apply for loan consolidation on their own, or they may seek assistance from a student loan debt relief organization like Student Advisors.
Lower Interest Rate – The interest rate for your new consolidated loan is based on the average interest rates of all your student loans. So, if your loans have a variable interest rate, you may get the consolidated loan at a fixed lower interest rate.
Single Monthly Payments – Consolidation simplifies the repayment process by consolidating multiple monthly payments into a single payment.
Extended Repayment Term – Loan consolidation gives you an extension in the repayment term, which results in lower monthly payments and increased affordability.
Affordable Repayment Plan – Loan consolidation gives you another chance to select a repayment plan that best suits your circumstances.
Student Advisors can help you pay off your student loans and build a sound financial future. We provide our customers complete and accurate information regarding their loan forgiveness and consolidation options. In addition to this, we guide you throughout the application process and make sure that you get your desired results.