09.23.08 | Consolidation Does Not Require Multiple Loans
Here is my consolidation question of the day!
Question: I only have one private loan so I can’t consolidate, right?
Answer: WRONG! Loan consolidation is viewed as a debt management tool. The purpose is to extend your loan terms to help minimize your monthly payment. Regardless of whether you have one loan or ten you may apply for consolidation.
I guess when you are in the industry you never give this a second thought – it’s just common knowledge that you don’t need more than one loan to consolidate, but many don’t know that.
If you have $10,000 or greater in private student loans and are looking to consolidate (click here).
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Filed under: Consolidation FAQ's, Why Consolidate
