Does consolidating student loans affect my credit score

Because of the increasingly unaffordable price tag on higher education, many people have student loans.

Student loans make a lot of sense to lenders: Although the person responsible for repayment may have no income at the time of the loan, the lender expects that good income is just around the corner.

But what really makes these loans attractive to lenders is that they can’t lose.

Almost no student loans are dischargeable in bankruptcy, except in extreme situations, meaning that you have to pay them back sooner or later. A loan is usually for a semester’s or a year’s worth of school expenses.

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I made an exception for my student loans for two reasons: If you have several student loans, is a new app that can help you get to that level of organization.If you’ve graduated from college or graduate school in the last decade, I don’t need to tell you that college tuition is rising at an unsustainable level or that we are graduating with monstrous student loan debts—to the point that Americans’ total student loan debt has surpassed our credit card debt for the first time in history.There’s lots of talk about the calculus of return on investment in education.But if you’re older, wiser, and deeper in debt, how do you attack those student loans?Specifically, if you find yourself with extra cash, should you pay down student loans early? I recorded this video to very quickly answer why: We’re going to get into the pros and cons of repaying student loans early versus hanging onto that money for things like an emergency fund, retirement, a home, or even just having fun.

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