
Parents Feel Relief When Kids Consolidate Student Loans
When students or parents decide to consolidate student loans, it can take much of the financial burden off of the parents. The college years are costly and lengthy, but supportive parents do what they can to help their kids make it through and graduate. This often involves taking out loans to help pay for tuition, room and board, books, and other college expenses. By the time little Susie walks to Pomp and Circumstance, there can be several loans in existence, totaling tens of thousands of dollars. If these loans are left open individually, it will mean several expensive payments each month until they are all paid off. However, parents can reduce both the number of payments being made and the amount being paid if they choose to consolidate student loans.