December 5, 2006 6:08am CST
Student Loan Consolidation allows you to combine several existing student or parent loans into one new loan from a single lender, using this new loan lender to pay off the balances on the other loans received from financial institutions orfrom the federal government. You must then repay to one single lender instead of making different repayments and amounts to various lenders. The student loans eligible for consolidation must be either in grace period (six months after finishing your studies) or repayment, and the minimum amount of money for consolidation is USD 5000.
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