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Consolidating mortgage student loans

And while our site doesn’t feature every company or financial product available on the market, we’re proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward –- and free. " Like the federal government, private companies offer the option to consolidate multiple student loans into one.

The goal with this process is not only to get the ease of a single payment, but to receive a lower interest rate based on your financial history.

These options can also work if you don’t own a home or have enough home equity to roll your education debts into a new mortgage.

When comparing loans, it’s easy to focus exclusively on interest rates, but don’t forget to compare lender fees and costs.

The Department of Education offers consolidation loans for federal direct education loans and eligible loans backed by the government, but a federal consolidation loan may not lower your current loan rates by much.

Federal consolidation loans carry interest rates based on a weighted average of the rates on your current student loans.

631 comments

  1. Jun 27, 2014. A Student Loan Hero user recently asked us an interesting question “Should I dip into my home equity to pay off my student loan debt?” This strategy is referred to as “debt reshuffling” via a Mortgage Equity Withdrawal, Cash-Out Refinancing or a Home Equity Line of Credit. Basically, you would refinance.

  2. Days ago. Federal student loan consolidation can lower and streamline your bills. But student loan refinancing or income-driven repayment may reduce your payments even more. Calculate how much you'd pay under each option.

  3. Apr 28, 2017. People with both kinds of debt can now consolidate them -- but here's what you should know before taking this option.

  4. Nov 11, 2015. Comparing your current student loan rates and payment amount to prospective refinancing terms can help you determine if consolidating student loans into a new mortgage is your best option. Using online mortgage calculators can help you consider how or if refinancing can help reduce the cost of student.

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