Consolidating canada student loans
While you’re refinancing, you might be tempted to include other types of debt into your new loan (auto, credit card, or personal loans, for example).
Although it would simplify things, this generally cannot be done with a student loan.
If you can get a lower interest rate (or some other advantage), you’ll be in a better position.For some, those benefits aren’t helpful, but you never know what the future brings, and features like deferment and income-based repayment might come in handy someday.A private loan consolidation is only an option if you refinance your debt.In the private market, lenders might be willing to compete for your loans, and you can get a good deal if you have good credit.Since credit scores change over time, you might be able to do better now if you’ve been making payments on time for several years.
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If your student loans need a tune-up, there are several ways to simplify life and reduce your expenses.