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Yet, while there are several benefits to consolidating your student loans, there are also a few things that you should consider prior to moving forward.
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This may seem a little unfair to some, but the fact is that military personnel have a highly reliable employer making failure to pay and sudden layoffs highly unlikely.
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The Federal Trade Commission has warned consumers to be on the lookout for these types of lenders, and has aptly named them predatory lenders.
If a creditor will rely on the mailing rule, under which a consumer is deemed to receive a Loan Estimate 3 business days after delivery by any method other than personal delivery, the creditor would need to send the revised Loan Estimate at least 7 business days before consummation.
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The Army and Navy offer loan repayment programs that help enlisted personnel pay off college loans accrued prior to service.
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