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It can vary from 10 to 30 years, but in this case it’s going to be 25 years. That’s a lot less than the 0 a month you would have spent on a standard 10-year repayment plan.
That means that you have various loans, and all of them have a 10-year repayment schedule. I got a lower rate and a lower payment, since my total repayment term had been extended to 25 years.
For example, borrowers with federal student loans can take advantage of federal income-driven repayment programs, or benefits like loan forgiveness, which borrowers with private student loans typically don’t have access to.
Consolidating your student loans Let’s take a look at a few of the pros and cons of consolidating your student loans.
The site answers a lot of frequently asked questions, and enables you to go through the entire consolidation process online.
We recommend the lenders above because we thoroughly evaluated them. Can I consolidate private and federal loans together? You can also extend the term of your loan, at the same interest rate.