Consalidating student loans

Fortunately, Pen Fed can simplify the refinancing process for spouses who would like to combine their private student loan debt as well.Consolidating student loans with spouse can yield several advantages.But with 0,000 in debt, you probably have some private loans in your portfolio, too.And I am going to be straight with you: Private college loans are not ideal at any time, especially now, when many lenders have left the student loan business or curtailed their lending in the wake of the financial crisis. With a private loan consolidation, your FICO credit score will determine both whether you get a loan and what the initial rate will be.

This can mean significant savings for a spouse with a low credit score.You might not be able to score a deal for the entire amount, but if you can get a fixed-rate personal loan to pay off some of the variable-rate student loan debt, that will offer you more stability.Ask Suze a question or get another answer Please note: This is general information and is not intended to be legal advice.You should consult with your own financial advisor before making any major financial decisions, including investments or changes to your portfolio, and a qualified legal professional before executing any legal documents or taking any legal action.Harpo Productions, Inc., OWN: Oprah Winfrey Network, Discovery Communications LLC and their affiliated companies and entities are not responsible for any losses, damages or claims that may result from your financial or legal decisions.

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