Consolidating sallie mae loans federal loans
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Loan consolidation can be helpful for borrowers who want to combine their eligible federal student loans into a single Direct Consolidation Loan.
You’re generally eligible once you graduate, leave school or drop below half-time enrollment.
However, the interest rate is fixed for the life of the loan.
Depending upon the total balance you are consolidating, you may extend the repayment period for up to 30 years with consolidation.
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