Using a program of federal student loan consolidation, student loan holders can consolidate their existing educational loans. The procedure is very simple: just call ready maintenance Centre Direct (a division of the U.S. Department of Education) and a very short period of time, you will have your new consolidation loan.

The new interest rate will be a weighted average of all your current federal student loans interest rates.

It is even possible to consolidate additional in this loan debt, if it is considered as a viable alternative.

The main reason that leads people to ask for debt consolidation is the enormous amount of money spent on monthly payments. If you mix all loans in one alone, your new monthly payment will become affordable, not to mention that the loan can stretch for a few years yet.

To do this, you can go to the Bank and ask for a personal loan. It is recommended to use a separate loan for loans to students and another for the rest of the debts.

Financial experts do not encourage the combination of student loans, with a private debt consolidation loan as which only creates more financial problems.

In most cases of federal student loans, interests are tax deductible. Why anyone would give such benefit? In this situation, it is better to have a single with two loans.

The only exception is when the consolidation loan is ready real estate in reality. If you are lucky you can get an interest rate lower than that of your student loan.

Real estate loans are also tax deductible and you do not lose benefits. In time will increase your income and which affect the interest to write the student loan. But with a real estate loan interest, you can continue to write off the amount without any problem.

To summarize all this, sometimes including a student alongside loan and other loans into a single can be viable but sometimes when separate loans are simply the best option.

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