Educational Loan Consolidation ?
How does loan consolidaiton works?
I have Federal Stafford loan and private loan.
What is the procedure for consolidation and how much do you save?
Yes you should consolidate. It makes it easier to pay because you’ll just have 1 payment. If you move around, you’ll also just have to keep track of 1 loan instead of 2. Try this http://www.dlservicer.ed.gov/consolidatenow/welcome.asp . My husband and consolidated with them. They have a low rate and they offer a discount if you pay automatically from your account every month. They also adjust your payment according to changes in interest rates automatically. You’ll just notice that your monthly payment has decreased.
