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Student loan debt consolidation is a strategy that enables a student to combine all his loan debts into a single loan, with a single monthly payment. Student loans are classified into federal student loans and private student loans. Federal student loans are issued by the US Department of Education as well as the Department of Health and Human Services, and private student loans are administered by the non-federal organizations and other private lenders.

Student loan debt consists of all kinds of educational expenditures incurred by a student to full his studies. Most students leave college with huge debts. In student loan debt consolidation, the existing loan is paid off either by the US Department of Education or other private and non-federal organizations, based upon the nature of the loans. A new loan is designed with one monthly payment stretching over a period of time. Nonetheless, consolidation guidelines and regulations are various for federal student loans and private student loans.

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