Get cash back for consolidating your student loans

Please collect incentives/promotions/discounts for consolidation loans only here.Some other good general info from the previous (now archived) thread on consolidation deals: FAQ Q: What are the benefits of consolidation?While it isn’t advertised to the same degree, you can usually score a similar deal with your student loans.

Many people don't understand how amortization works. (hint: you can't "pay more towards interest" -- the monthly interest charge is simply calculated by the interest rate). Please note that some incentives are for a lender's consolidation loans and some incentives are for loans that are originated with that lender.Yet despite the appeal -- and its popularity -- student loan consolidation isn't for everyone.Here are some frequently asked questions and answers that may help determine if it's the right move for you.To a college grad swamped with multiple student loans that have come due, loan consolidation is an enticing option.When you consolidate, a lending institution pays off your existing balances and replaces them with a new, consolidated loan.If the options above don’t work for you and you simply can’t make any payments right now, you might be eligible to postpone your payments through a deferment or forbearance.However, depending on the type of loan you have, interest may still accrue (accumulate) on your loan during the time you’re not making payments.A: 1) lenders offer incentives for consolidating loans with them as listed above.2) consolidation loan interest rates are fixed at the rounded weighted avg of your variable rate loans.While some borrowers are better off moving into a new loan product, others should stick with the loans they already have.At the end of the day, the benefits of refinancing or consolidating depend on a student’s existing loans and what their ideal student loan payment looks like.

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