Jan
4
Review Student Loan Consolidation Advice Before Consolidating Your Loans
Filed Under Student Loans | Leave a Comment
There are some things to consider as you began the task of consolidating your student loans.
If you are married it may be tempting to cosign with your spouse as a married couple instead of as an individual. If you do so the amount you can borrow will be higher. However both parties will be liable for the loan even if they later divorce or upon the death of one of the parties.
Student loan interest rates are linked to the 91-day Treasury bill auction to determine loan interest rates. The loan interest rate is the same from July 1 through June 30 each year.
If interest rates are falling you may want to wait until after the first of July to apply for your loan as the interest rate may fall. The opposite is also true; if rates are rising you may want to consolidate before the first of July.
For additional information search online for student loans consolidation advice.