While we make an effort to include the best deals available to the general public, we make no warranty that such information represents all available products."Advertiser Disclosure Wednesday, February 1, 2017 The editorial content on this page is not provided by any financial institution and has not been reviewed, approved or otherwise endorsed by any of these entities.
Paying multiple student loans can be confusing and costly. Student loan consolidation can help borrowers to alleviate some student loan obligations and cut down the confusion.
But don’t create bigger headaches for yourself by responding to one of those tweets, emails or online ads.
We do not let compensation from our advertising partners impact the order in which products appear on the site.
To provide more complete comparisons, the site features products from our partners as well as institutions which are not advertising partners.
That new loan will have its own interest rate and repayment terms.
You borrowed a ton of money to pay for your tuition and other college expenses.Moving the balances of your credit card accounts into an installment loan for purposes of consolidation may cause a slight drop in your credit score.The principal reason is you will have a new inquiry and huge installment loan appear on your credit report, even though you also will have much lower debt-to-credit ratios on your credit cards.To some degree, yes, having multiple student loans appearing on your credit reports may cause a small amount of credit score damage.This is true even if your student loans are in deferment, in forbearance, or if you are actively making on-time monthly payments.After four years, give or take, you graduated and entered the real world.