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Read the other posts in the series here—and get all the info you need to make intelligent decisions about your student loans.And while you’re at it, check out So Fi’s new Student Loan Debt Navigator tool to assess your student loan repayment options.
Truth: Debt consolidation is dangerous because it only treats the symptom.
The loan by which debt consolidation take place is called a consolidation loan; the process is often used for student loans.
Rolling short-term debt into a home mortgage loan, either at the time of home purchase or later.
That’s what our Student Loan Smarts series is all about—helping you understand all of your options so you can make decisions that fit with your financial goals. Choosing to consolidate or refinance student loans.
But what is consolidation, what is refinancing, and how do you know which one (if either) is right for you? Here’s a simple overview of the different types of student loan consolidation, how they differ from student loan refinancing, and how to evaluate whether you should do one of these things.
That’s why we decided to use this blog post to explain exactly what student loan consolidation is and whether or not it’s the right thing for you. How does student loan consolidation differ from the other types of debt consolidation?