Consolidating consolidation de debt information
In addition, many states and colleges use your FAFSA data to determine your eligibility for state and school aid.Some private financial aid providers may use your FAFSA information to determine whether you qualify for their aid. When you fill out your FASFA, you will also create an FSA ID.When you consolidate your federal student loans, you get a Direct Consolidation Loan, which has a fixed interest rate for the life of the loan.The fixed rate is the weighted average of the interest rates on the loans being consolidated.
If all of your education loans have fixed interest rates, it may not matter when you consolidate.FSA ID stands for your Federal Student Aid Identification. You use your FSA ID to: Only you can create and use your FSA ID. Dishonest people could use your FSA ID to get into your account and take control of your personal information.Student loans are debt you have to pay back, even if you don’t finish your degree.And some of the companies that promise student loan debt relief are scams.It’s illegal for companies to charge you before they help you.