College consolidating loan
Consolidations allow borrowers to pay one larger bill instead of several separate loans.
Borrowers who need more cash flow each month may be ideal candidates for a consolidation.
Bankrate's community sharing policy Bankrate wants to hear from you and encourages thoughtful and constructive comments.
Borrowers who can afford their payments should think twice before signing onto a consolidation, and those nearing the end of a student loan obligation may not benefit much from it.Let’s look at an example of getting a federal consolidation loan—you can also get a private consolidation loan if you have private loans, but we’ll get to that in a minute. Fifteen thousand dollars in subsidized loans with a 3.5% interest rate, and then two different unsubsidized loans: a loan of ,000 with a 4% interest rate, and a loan of ,000 with a five percent interest rate.[Show example, with interest rates.] If you’re not sure about the differences between unsubsidized and subsidized loans, we cover this in another video.Relationship-based ads and online behavioral advertising help us do that.Here's how it works: We gather information about your online activities, such as the searches you conduct on our Sites and the pages you visit.