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Exactly how federal education loan debt consolidation reduction works
- First you consolidate all your eligible federal loans using a Direct Consolidation Loan; this rolls your debts into a single monthly payment.
- Note: When you have old loans according to the FFEL system, then you certainly explore a keen FFEL consolidation loan alternatively.
- Second, you join a federal cost plan. This helps your present a repayment agenda that works for the budget and personal debt elimination wants.
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