Student Loan Consolidation - Good or Bad Idea?

This calculator could save you money and speed your payment. BUT consolidation loans only make sense if you are no longer entitled to any further student debt aid.

Remember, you should only consolidate if:

• you make too much money for interest relief
• you have already used up your interest relief, including extended interest relief
• you are not eligible for debt reduction or other loan remission programs
• you will save more from this than from being able to write off your student loan interest (tax credit)

This Vancity online calculator can help you decide:

https://www.vancity.com/Loans/LoanCalculators/DebtAcceleratedPayoff/

Warning! If you're considering debt consolidation, please first see this Debt 101's article: Thinking of Consolidating? Think Again!