What are the requirements for getting approved for student loan consolidation?

In North Carolina, there are certain requirements that must be met in order for an individual to get approved for student loan consolidation. The first requirement is that the borrower must be a North Carolina resident, meaning they must have lived in the state for at least six consecutive months prior to applying for the loan. Second, the borrower must be at least eighteen years of age, or have a parent or guardian acting as a co-signer on the loan. Third, the borrower must have at least one loan that is currently in repayment status or entering repayment within ninety days of their loan consolidation application. Fourth, the borrower must have a good credit history or be able to demonstrate an ability to make reliable loan repayments. Fifth, all loans must be current, without any past due payments for at least six months prior to consolidating the loans. Finally, the total amount of the loan consolidation cannot exceed $50,000. This amount includes the current balance of the borrower’s loans plus any additional funds that may be needed to make the consolidation. If all of these requirements are met, the borrower can typically begin the loan consolidation process and begin reaping the financial benefits of student loan consolidation in North Carolina.

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What are the requirements for getting approved for student loan consolidation?

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