Consolidating credit lines

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To consolidate student loan debt, you get a single loan that is then used to pay in full your outstanding debt from the various lenders who provided you with student loans.

I’ve used it in the past to get one card with a huge limit that I can do a 0% balance transfer on it.

Even when you are applying through the same lender, you are basically taking out a new loan each semester or year.

Each of those loans is a separate account, so it is standard practice for students to have multiple loans reported in their history.

It is a little confusing because after you graduate, you probably will write one check to the lender each month to pay for the entire amount you borrowed.

As long as you make the payments on time and in full, the multiple student loans showing on your credit report will not have any negative effect on your ability to get new credit.

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