Answered

Which is true about loan consolidation?

Select one:
A. Consolidation can be a useful tool to manage loan repayment for those with more than one student loan.
B. Consolidation works by combining all of your student loans into one loan.
C. Consolidation can lead to lower payments right now, but will increase the amount you pay overall.
D. All of the above are true.



Answer :

GinnyAnswer

Final answer:

Loan consolidation combines multiple student loans into one for easier repayment with initial lower payments but potential higher overall costs.


Explanation:

Loan consolidation can be a useful tool for managing loan repayment for those with multiple student loans by combining all eligible federal student loans into a single loan with a single servicer. While loan consolidation may lead to lower payments initially, it can increase the total amount paid over the loan term.


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