Debt 101
Helping You With Your Student Loans
- Home
- Free $ Tools
- Financial Articles
- Blogs
- Help/Links
- All About Us
Student Loan Consolidation - Good or Bad Idea?
This calculator could save you money and speed your payment. BUT here's a critical tip... Consolidation loans only make sense if you're no longer entitled to any further student debt aid.
Remember, you should only consolidate if:
- you make too much money for interest relief
- you have already used up your interest relief, including extended interest relief
- you are not eligible for debt reduction or other loan remission programs
- you will save more from this than from being able to write off your student loan interest (tax credit)
This Vancity online calculator can help you decide:
https://www.vancity.com/Loans/LoanCalculators/DebtAcceleratedPayoff/
Warning! If you're considering debt consolidation, please first see this Debt 101's article: Thinking of Consolidating? Think Again!
Debt 101/Student Finance 101: Helping You With Your Student Loan!
Website and Original Content Copyright © 1999-2024
by Jeannine Mitchell, Publisher and Founder.
All rights reserved.
www.debt101.com | www.studentfinance101.org