05.03.07 | Do you need payment relief?
Are you looking for payment relief on your federal student loans? If so then loan consolidation is the answer to improving your financial situation. The best feature of loan consolidation is that it is not a temporary fix to improve your finances. Consolidation gives you long term relief from high monthly payments! Please see below:
$20k Loan Before Loan Consolidation
*Payments based on a 10 year repayment schedule
Monthly Payment = $228.37
$20k Loan After Loan Consolidation
*Payments based on a 20 year repayment schedule
Monthly Payment = $150.59
As you can see, consolidation does give you a longer repayment plan however you can pay off the consolidation loan at any time and there is no early repayment penalties. It’s a great solution to help free up extra cash for other expenses such as rent, food and car expenses, and credit card payments. Its obvious folks that federal loan consolidation is an excellent debt management tool. Check it out!
The Student Loan Network: Stafford Federal Student Loans, Parent PLUS Loans, Student Loan Consolidation, Private Student Loans, Education Loans/College Loans
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