Benefit of consolidating student loans
PLEASE ALSO NOTE THAT SUCH MATERIAL IS NOT UPDATED REGULARLY AND THAT SOME OF THE INFORMATION MAY NOT THEREFORE BE CURRENT.CONSULT WITH YOUR OWN FINANCIAL PROFESSIONAL WHEN MAKING DECISIONS REGARDING YOUR FINANCIAL OR INVESTMENT MANAGEMENT. "/The material provided on this website is for informational use only and is not intended for financial, tax or investment advice.Bank of America and/or its affiliates, and Khan Academy, assume no liability for any loss or damage resulting from one’s reliance on the material provided.Please also note that such material is not updated regularly and that some of the information may not therefore be current.
Under your new loan terms, your loans will be consolidated into one fifty thousand dollar loan— ,000 FEDERAL LOANS and you’ll have one new fixed interest rate, 15000 X 3.5, 20000 X 4.0, 15000 X 5.0 which is determined by taking the weighted average of the interest rates on your previous loans, and rounding up to the nearest 207500 ÷ 50000 one eighth of one percent.
CONSOLIDATING STUDENT LOANS Let’s take a look at a few of the pros and cons of consolidating your student loans.
CONSOLIDATING STUDENT LOANS If you have multiple student loans, STUDENT LOAN consolidation can offer some simplicity to your repayment.
A LOT MORE But by comparing the pros and cons of each repayment plan available, REPAYMENT PLANS you’ll be able to find out which option is right for you.
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DEFERMENT OR FORBEARANCE Now, if you have private student loans, STUDENT LOAN PRIVATE CONSOLIDATION LOAN, BANK you also have private loan consolidation options.