Consolidating personal school loans

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Only available to existing customers who have an active NAB account for at least 6 months and transact regularly.

Complete applications (including all supporting documentation) must be submitted in store by 2pm Monday-Friday.

However, at the end of the 3-to-5 year process, you should be debt free, which definitely improves your score.

Learn More About Management Plans A Debt Consolidation Loan (DCL) allows you to make one payment to one lender in place of multiple payments to multiple creditors.

Most financial experts agree that a Debt Management Plan (DMP) is the preferred method of debt consolidation.

The most-recommended DMPs are run by non-profit organizations.

Different amounts and terms will result in different comparison rates.

Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

The best way to consolidate a large amount of credit card debt (anything over ,000) without taking on a new loan, is to enroll in a Debt Management Plan.

Same day funds will be unavailable if your loan purpose is to refinance NAB debts or if NAB requires your application to be reviewed by a lending specialist.

If you need help getting out of debt, you are not alone.

Learn More About Consolidation Loans Bill consolidation is an option to eliminate debt by combining all your bills and paying them off with one loan.

With bill consolidation, you make only one monthly payment — a good idea for when you have five, or maybe even 10 separate payments for credit cards, utilities, phone service, etc.

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