Best company for consolidating private student loans


20-Jan-2020 18:08

Your repayment period can be 10 or 20 years, based on your creditworthiness.View APR Examples If you are experiencing financial difficulties and you are unable to make your student loan payments, we have options to help.A private consolidation loan is a private student loan that combines and refinances multiple education loans into one new loan with a new interest rate, repayment term and monthly payment amount.This could result in a lower interest rate and/or a lower monthly payment.If you are extending your repayment term, this could result in an increase in your total cost over the life of the loan.You can choose to consolidate one, some or all of your eligible student loans.

To enroll for automatic payments, complete the enrollment form online or call us at 1-800-STUDENT to request a copy of the enrollment form, complete it and mail it back to the address on the form. You can choose to consolidate while you are still in school, during your grace period or after your grace period expires.To learn more and determine if you qualify, please call our Repayment Assistance Department at 1-800-STUDENT.Learn More Before deciding if consolidating your student loans is right for you, we recommend you consider the possible benefits and impacts of a consolidation loan and how it may fit with your specific situation and needs.During that time, we complete the credit review process, you (and your cosigner, if applicable) will sign the loan documents and we will ask you to obtain payoff statements from your current loan servicers.

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If you prefer, we can schedule a call with you and your current loan servicer(s) to verify the loans you want to consolidate.If you choose to consolidate while you are still in school or during your grace period, you will lose any remaining grace period on the loans that you are consolidating, and you will begin making payments approximately 30-45 days after your loan is disbursed.