consolidation loan

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Related to Loan Consolidation: personal loan, Debt consolidation

Consolidation loan

A loan that is used to combine and finance payments on other loans.

Consolidation Loan

A loan that pays off two or more loans. A consolidation loan often comes with a lower monthly payment and/or interest rate than the previous loans, as well as a longer repayment period. The process is usually called debt consolidation, and is often used for student loans.

consolidation loan

A new loan that pays off two or more existing loans or indebtednesses, usually resulting in lower payments.Home equity lines of credit are often marketed as consolidation loans, urging consumers to pay off high-interest-rate credit cards and automotive debt for lower-interest-rate, tax-deductible, mortgage debt.While the practice does reduce monthly payments significantly, it replaces relatively short term debt with long-term debt and results in higher total interest payments over time.

References in periodicals archive ?
Bright Horizons Financial Services' Student Loan Peace program thanks teachers by helping them and other public service workers determine eligibility for government student loan consolidation programs that can result in significantly lower monthly student loan payments and loan forgiveness.
If you are considering loan consolidation for several high interest credit cards, but have a savings account that would cover the balances of each or some, it may make sense to do so, particularly if you can survive otherwise without touching your savings for some time.
Loan consolidation is another aspect of personal finance management that most Americans are unlikely to do this year.
House of Representatives' Committee on Education and the Workforce, Shapiro added that the "rising costs in future years of subsidizing loan consolidations would cut into the funds available for college loans in the future.
They take many forms, the most common being home equity loans, home equity lines of credit, "cash out" home refinancing, student loan consolidation programs, and personal loans through financier institutions,
Either way, borrowers can get information on loan consolidation by visiting the U.
If you can afford to pay off your debt before the end of your term, do so, as there is no prepayment penalty associated with student loan consolidation.
For more information on Citibank Private or Federal Consolidation Loans, visit the Student Loan Consolidation Center at www.
Get in on the ground floor of the rapidly growing Student Loan Consolidation Business.
com)-- Golden Financial Services has led the way as the pioneer Debt Settlement Company in America since 2004, but now also offers innovative small business options, business loans and student loan consolidation help.
Federal Student Loan Consolidation - Private Student Loan Consolidation (New) - Private Student Loans - Loan Forgiveness Programs - Professional Advisory Service
Student loan consolidation is the best way to protect yourself from a very significant interest rate increase on July 1," says Keith D'Ambra, senior vice president of loan consolidation for Sallie Mae, one of the nation's main loan providers.