This means your student debts cannot be combined with credit cards or other debts under this type of loan. Borrowers can usually only qualify for loans equal to their current student loan payoff amounts.
You probably won’t be able to consolidate student loans and credit card debts together in a cost-effective way, but there could be another debt solution perfect for what you’re trying to accomplish.
Borrowers who want to more effectively manage their debt or get better loan terms could be interested in consolidating loans.
They might even wonder if it could be a good idea to consolidate student loans and credit card debt together.
“The first inquiry could lower your credit score, and impact your ability to get approved for the second application.” On the other hand, consolidating credit card debt could help other factors that lenders consider when approving a student loan refinance, De Gisi said.
When Common Bond evaluates an application, for example, they look at free monthly cash flow.