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Posted by / 14-Jun-2018 18:58

Consolidating auto

If approved for this benefit, the lender will put the borrower's loans into forbearance, suspending their monthly loan payments.Unpaid interest will continue to accrue and will be capitalized (added) onto the borrower's principal balance.This report was not chartered by or created on behalf of any lender listed below.

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.Borrowers typically have the option to make interest-only payments during this period in order to prevent accruing interest from increasing their balance.Many parents take out "Parent PLUS" loans to pay for their children to attend college.Loans currently in default are generally not eligible for refinancing.This is the lowest credit score a lender will consider when determining borrower eligibility.

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Finding the right bank to refinance or consolidate your student loans is confusing.