loan consolidation

Definition of "loan consolidation"
  1. The process of merging multiple debts into a single new one, usually resulting in lower monthly payments but a longer repayment period and higher total interest
How to use "loan consolidation" in a sentence
  1. Jane considered loan consolidation to manage her student debt.
  2. Through loan consolidation, Mark was able to reduce his monthly payments.
  3. Emily used loan consolidation to simplify her credit card debts.
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