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Once the loan has been paid off in full by consolidation the defaulted student loan is no longer in default and is paid off.
Now that we have discussed some of the benefits to why you should consolidate your student loans, now we can talk a little bit about some of the aspects of student loan consolidation that important to know before making your decision to consolidate your student loans.
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Be sure to really make sure you understand the ins and outs when considering the consolidation of your federal student loans into a private consolidation.
Borrowers that work in public service or in non-profit can qualify for PSLF forgiveness if there student loan meets the program requirements.
”There are many benefits to consolidating your student loans.
Many of these benefits can have a very good impact on your situation and maybe even your credit score.
So you may you just finished celebrating the best 4 years of your life and one of the greatest achievements of your life by graduating with your college degree.
Your life and future looks to be full sunshine and promise. Then on one of those bright sunny days a visit to your mailbox ends with a nice little letter describing how for the next 30 years you will be paying back nearly a mortgage payment back for your student loans.