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What is one benefit of consolidating federal student loans

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Reference no: EM132765432

Problem 1: What is one benefit of consolidating Federal student loans?

Option 1: Interest-free deferment

Option 2: Loan cancellation

Option 3: Having only one bill to pay each month

Option 4: Being able to add to your student loans, even though you are no longer a student

Problem 2: Which of the following statements is TRUE?

Option 1: In general, if you choose a repayment plan with a longer term, the total interest you pay will be higher

Option 2: In general, if you choose a repayment plan with a longer term, you will pay off your loan more quickly

Option 3: In general, if you choose a repayment plan with a longer term, the total cost of your loan will be lower

Option 4: In general, if you choose a repayment plan with a longer term, you will probably damage your credit score

Reference no: EM132765432

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