Get cash back for consolidating your student loans
But if your credit is in the fair to poor range, it may be a little trickier to consolidate your debts.However, there are loans geared to people with less established credit or lower credit scores.Debt consolidation can help limit the number of bills you pay each month and potentially save you money on interest.When it comes to debt consolidation, you have several options depending on your credit history and credit scores.
If your score is in the good or excellent range, you probably have a strong chance of getting approved for a personal loan with a low APR.
Access to a debt consolidation loan with even a slightly lower interest rate than the one you're currently paying can help shave thousands of dollars off the total amount you repay.
You may also consider consolidation if you're having a hard time managing multiple payments.
List out how many debts you're paying each month, and calculate the total dollar amount of debt you need to consolidate.
This will help you understand how much you need to borrow to consolidate your existing loans and give you an idea of the interest rate you need in order to save money moving forward.