Singh up for hot chat - Consolidating federal student loans interest rates

You should already have payments set up, so anything extra goes straight toward your principal.

One easy way to do this: Set up automatic payments with this extra amount added in.

When you refinance multiple student loans, you’ll get one consolidated loan with one monthly payment.

Effectiveness Level: Medium-High This is one of the easiest ways to reduce your debt.

Just take the payments you have and add extra money to the payment.

You’ll likely only want to refinance loans where you can actually decrease your interest rate.

For example, student loan refinancing rates below 3.00% are currently available.

Please do your homework and let us know if you have any questions or concerns.

One thing we can all agree on: Paying off student loan debt isn’t fun.

Similar to when you are being sold any product or service, be sure to read the fine print understand what you are buying, and consult a licensed professional if you have any concerns.

Student Loan Hero is not a lender or investment advisor.

It’s so tempting that Bankrate reports an estimated 70 percent of those who get cash windfalls spend all of it within a few years.

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