Is the holiday season a good time to consolidate debt?
Tackling debt during the holidays can be hard, but there may be some benefits.
You have a world of options at your fingertips when it comes to paying down your loans. Knowing what they are is the key to becoming debt-free.
— Hanneh Bareham
Hanneh Bareham, a Certified Financial Education Instructor℠, is a former Bankrate personal finance writer. She started as a credit cards reporter before transitioning into the role of student loans reporter. She is now a writer on the loans team, further widening her scope across multiple forms of consumer lending.
She has been featured in multiple national and regional media outlets, including Yahoo, CNBC, Business Insider, The Chicago Tribune, The Seattle Times and more. Her desire to empower borrowers comes from her own experiences as a college graduate managing her finances during a tumultuous economic climate. She aims to help others reach their goals through a better understanding of macroeconomic trends.
When she's not checking her repayment strategies with a loan calculator, Hanneh enjoys acting, baking and trying to find the best cup of coffee on the East Coast.
When it comes to taking out any sort of installment loan or repayment plan, it's so important to know exactly what you're signing up for. Before applying, read the terms and conditions or find the basic loan details — like interest rate ranges and repayment terms — on the lender's website to make sure you're doing what's best for your finances.
You have a world of options at your fingertips when it comes to paying down your loans. Knowing what they are is the key to becoming debt-free.
— Hanneh Bareham
Tackling debt during the holidays can be hard, but there may be some benefits.
Reach Financial is best for those who want to consolidate their debt. However, the lender doesn't disclose many of its eligibility requirements and loan details.
Navy Federal personal loans are best for current members of the credit union and borrowers who meet the membership requirements.
Roughly 9 million adults age 50 and older are still actively paying off federal student loan debt.
Cost of living, safety and dining options all factor into a good college experience.
Average student loan debt amounts hit Gen Z the hardest.
Debt consolidation sees a spike as credit card balances grow
If your financial situation has changed, you may be able to get more aid.