consolidation loan

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Related to Consolidation Loans: Debt consolidation

consolidation loan

n
(Banking & Finance) a single loan which is taken out to pay off several separate existing loans
References in periodicals archive ?
As a result, the agency has lowered its base case default assumption by 1% for each sub-pool, to 7% for flexible loans (ie, the Dynamic product label), 9% for debt consolidation loans (ie, Compact) and 6% for the residual category "other loans", leading to a weighted average (WA) lifetime default base case of 8.3% (down from 9.2% at closing in April 2016) for the Fitch-stressed portfolio at the end of the revolving period.
Strategic Financial Solutions, a provider of comprehensive debt relief services and debt consolidation loans for consumers, has once again been selected as one of the Best companies to Work for in New York State in the large companies category, the company said.
Through its personalised approach that includes debt consolidation loans and debt resolution programs, Strategic Financial Solutions has reportedly resolved more than USD750m in debt and has funded loans for over 100,000 clients.
Consolidation loans allow those who have racked up multiple debts, especially the ones who are neck-deep in credit card dues, to lump all their borrowings into a single loan with lower annual interest rates and manageable monthly instalments.
The government offers Direct Consolidation Loans, but that's not really an opportunity to refinance.
Beginning in 2009, LendKey has provided private student origination and consolidation loans on both an exclusive and participation basis for credit unions.
That figure includes $77 billion in Stafford loans, $81 billion in unsubsidized Stafford loans, $21 billion in PLUS loans and $211 billion in consolidation loans.
"Many people are also attracted to debt consolidation loans for the significantly lower monthly payments they could be making by spreading the loan over a longer period.
This guide describes the four types of loans offered by the Direct Loan Program[SM]: (1) Direct Subsidized Loans; (2) Direct Unsubsidized Loans; (3) Direct PLUS Loans; and (4) Direct Consolidation Loans. Among the topics covered in the guide are: Use of Your Loan Money, The Master Promissory Note, How Your Loans Will Be Disbursed (Paid Out), Direct PLUS Loan Interest Rate and Payment of Interest, Half-time Enrollment, Changes You Must Report, Trouble Making Payments, Conditions for Canceling All or Part of Your Loan, and National Student Loan Data System (NSLDS).
Consolidation loans can provide financial benefits in the form of interest payment deductions that can lower your tax burden.
The brochure describes three Federal loans available to students: Stafford, PLUS, and consolidation loans. Stafford loans provide low-interest money to students.
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