Consolidating debt with
There is no cap on the interest rate of a Direct Consolidation Loan.If you’re struggling with debt – as many consumers are – you may be looking for a way to pay off your bills and get back on track financially.
If you’re hoping to consolidate student loans and other debts into the same loan, don’t expect to pay lower interest on the new loan.The result is a single monthly payment instead of multiple payments. Direct PLUS Loans received by parents to help pay for a dependent student’s education cannot be consolidated together with federal student loans that the student received.Loan consolidation can also give you access to additional loan repayment plans and forgiveness programs. Refer to the complete list of federal student loans eligible for consolidation in the application.Borrowers who want to more effectively manage their debt or get better loan terms could be interested in consolidating loans.They might even wonder if it could be a good idea to consolidate student loans and credit card debt together.By comparison, mortgage rates are currently in the 3–4% range.
If the current value of your home is greater than your current mortgage balance, it means you have equity in your home.
Debt consolidation loans for bad credit profiles are one way to get out of debt, but you may be wondering where to look if you’ve been turned down by your bank or credit union.
Before you go down the wrong road, take some time to realize there are choices for you, regardless of your credit history and financial situation.
Use our refinance calculator to see if you have enough equity to reach your financial goal.
It’s possible to add the costs associated with getting a new mortgage into the total refinance amount to avoid paying anything out of pocket at closing.
Federal student loans have interest rates that usually beat out personal loan rates.