There’s only one type loan to consolidate–a student loan–and now is the time to do so.
One money management expert and best-selling author, Dave Ramsey, believes students would be wise to obtain all the facts before attempting to consolidate students loans. In his Q & A with American Profile, Mr. Ramsey discussed how student loans are different than other kinds of loans and credit, therefore, are good candidates for consolidation. Here are his rules if this sounds like something you want to do:
1.) You are allowed one chance for student loan consolidation, so do it when interest rates are low–right now.