The Quebec Ministry of Education Direct Consolidation Loan offers a payment option that lets you combine all your federal student loans into one loan.
The monthly savings from consolidation may be halfway down your loan payment, providing relief after receiving payment when you need it most. Benefits of Federal Loan Consolidation In addition to drastically reduce your monthly payments, consolidation can reduce debt to income ratio and improve your credit score.
Student loan consolidation can stretch the repayment period of the standard 10 to 30 years, depending on the amount of your student loans. The lower monthly payment means you have more money available to cover other expenses, including car payments, housing costs, and requirements related to the quarry.
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