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What Should I Consider before Consolidating?
Consolidation Offers:
- Lower monthly payments
- Flexible payment schedules
- One payment per month
- One lender
Consolidation May Create:
- Higher interest costs
- Fewer deferments (for those who took out their first loan prior to July 1, 1993)
- Loss of cancellation options (except in the case of total and permanent disability or death)
You may also use the Loan Consolidaton Worksheet to determine your estimated monthly payment amount should you decide to consolidate your loans.
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