Consolidating student debt
Lenders have fixed costs to process payments and repayment can spread out over a larger period.However, such consolidation loans have costs: fees, interest, and "points" where one point equals to one percent of the amount borrowed.
Most debt consolidation loans are offered from lending institutions and secured as a second mortgage or home equity line of credit.Take a look at the chart below to compare the benefits of loan rehabilitation versus the benefits of loan consolidation.*NOTE: We previously indicated that loan consolidation would result in removal of the record of default from a borrower’s credit history.However, your credit history will still show late payments that were reported by your loan holder before the loan went into default.If you consolidate a defaulted loan, the record of the default (as well as late payments reported before the loan went into default) will remain in your credit history.
Search for consolidating student debt:

That cell of the table has now been corrected to indicate that loan consolidation will not result in removal of the record of default from the borrower’s credit history.
Our 30's dating website is safe, secure and completely confidential.