Dave ramsey on consolidating college loans
Step 3 – Once the card with the smallest balance is paid off, take the amount you were paying towards that card and apply to the card with the next lowest balance.
Step 4 – Keep on keepin’ on until ALL the cards are paid off.
Because oftentimes they think it is a magic wand of sorts – that it will cause all their debt problems to disappear.
Unfortunately that's not the case, and in many instances people end up making their situations worse by signing up for a debt consolidation loan.
Just remember to be careful and consider some important things before jumping into a debt consolidation loan. Doing a debt consolidation loan should mean that you're moving into a better situation that is more manageable for you and your family. When doing a debt consolidation loan there are a few important things that you need to consider.
Still, there are situations when a debt consolidation loan can be the right thing to do. Debt consolidation is when you take several debts, and consolidate them into one loan in order to take advantage of lower interest rates, lower payments or the lure of having a simplified situation and one easy payment instead of several payments.Dave Ramsey is tired of watching students go into a bunch of debt to receive degrees that they will either never need or never use.In fact, Ramsey has exposed many of the myths about student loans so students can make better decisions about their future. Many students think they NEED student loans to go to school. You can fund your dream of college by receiving scholarships and grants.Dave Ramsey has his own personal thoughts and opinions on student loan debt.While you may or may not agree with him, what he has to say does make a lot of sense.