Meharry Loan Consolidation Primer

4. Consolidating student loans also offers students additional benefits, such as interest rate discounts which may lower your rate to 3.5%, the convenience of a single monthly payment, possible tax deductions (consult with your professional tax expert), improved credit scoring because of lower debt-to income ratios, increased cash flow, which will make more of your discretionary income available to you earlier in your career to begin saving and investing for those important goals in your life such as a home, family, kid’s education, a business, retirement and charitable endeavors. Consolidation provides for payment certainty with no expenses, charges or penalties for prepayment.