refinance student loans

hi this is amanda abella savings advisor with moneysavingpro.com and in this video we are going to be discussing whether or not you should consolidate your student loans student loan consolidation can be a really good option to deal with any monthly repayment struggles but it can also affect your credit score make sure that you know all the facts before you decide to combine your debts for example if you owe less than $10,000 dollars then consolidation may not be a good option for you some lenders won't even give you a loan for less than that amount if you're managing your payments well and you're just looking for a better option consolidation is only going to extend the time of the loan

that means that you may end up paying more money in interest accrued over a period of time instead you should only consider consolidation if you really are struggling to make your monthly payments by combining all of your debts into one payment it makes your finances more manageable for more information visit moneysavingpro.com