Consolidating credit card debt for students
From 1982 to 2011, credit card debt among this demographic more than doubled.
These are not quick fixes, but rather long-term financial strategies to help you get out of debt. If you want to lower your monthly payment amount but are concerned about the impact of loan consolidation, you might want to consider deferment or forbearance as options for short-term payment relief, or consider switching to an income-driven repayment plan. Whom do I contact if I have questions about consolidation?Consolidate Your Debt Now Debt consolidation is combining several unsecured debts — credit cards, medical bills, personal loans, payday loans, etc. Instead of having to write checks to 5–10 creditors every month, you consolidate bills into one payment, and write one check.This helps eliminate mistakes that result in penalties like incorrect amount or late payments.