What is Private student loan consolidation ?
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2 comments
A private student loan consolidation is a new loan, from a private lender that puts all of ones loans into one. If you have any student loans you will get letters and phone calls urging you to consolidate them with one company or another. Be wary of costs and terms when dealing with a private lender.
Private student loans have the worst interest rates out there. Also, the interest rate can go up at any time at the lenders discretion for any or no reason. Private student loans can never be discharged by bankrupcy either so they will follow you forever.
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