How to Consolidate or Refinance Aidvantage Student Loans
Consolidating and refinancing are both options to streamline repayment and quickly eliminate Aidvantage student loans, but it is critical to make the right selection.
Did you know?
Consolidation can cause your debt to temporarily double on your credit report.
This happens when the new loan is reported to the credit bureaus, but the old loans are not yet removed.
Servicer Selection
Federal consolidation is one of the few times that borrowers get to pick their loan servicer.
Borrowers considering PSLF should select MOHELA as they handle all of the PSLF applicants.
Consolidating and refinancing are both options to streamline repayment and quickly eliminate Aidvantage student loans, but it is critical to make the right selection.
New rules mean borrowers with FFEL loans can qualify for Public Service Student Loan Forgiveness, but consolidation is a required first step.
Consolidation is essential for some borrowers and extremely risky for others. There are exactly four situations where it makes sense to consolidate federal student loans.
Student loan consolidation is a legitimate process, but calls advertising consolidation services are often scams.
For some borrowers, federal direct consolidation is an essential move. For others, it is a huge mistake.
Streamlining student loan repayment has its advantages, but using a refinance or consolidation for this purpose is asking for trouble.
Consolidation and refinancing can have temporary and long-lasting impacts on your credit report.
Private consolidation of federal loans has major risks and major rewards. With no way to undo the decision, borrowers need to be certain they’re not making a mistake.
Consolidating or refinancing student loans usually impacts borrower credit scores. However, the impact is typically small and short-lived.