There are divers dirty little secrets in the condensation world. As previously discussed consolidation is not ever a wise move, in that it merely extends your repayment terms, and thus, the amount of ackers you owe.

Another downside to consolidation is combined to your borrower benefits. Many students consolidated their federal loans a few years ago when borrower benefit packages were prevalent, nevertheless that is not the clike that whiche today.

My buddy Jason consolidated his loans in 2003 and was offered a .50 ACH and 1% rate reduction discount after 24 consecutive months of on time payments. granting he wanted to reconsolidate his loans today with the open Loan Center he would lose his 1% rate reduction and reduce his ACH discount to .25.

Just be sure to weigh the pros and cons while looking at every possible angle. And remember, just because you’re out of school doesn’t mean the homework stops. It is just as important as ever.

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