How Long Will I Have To Repay A School Loan Consolidation?
The term of the College Consolidation loan will depend on what the principal balances of your loans are at the time they are consolidated. The higher the balance, the longer the term. The minimum repayment term is 10 years and the maximum is 30 years. The minimum monthly payment is $50; Therefore, if you have a low principal balance, your loan may pay off in under 10 years. There is no penalty for paying your loan off early.
