So if you feel like your interest rate is too high, refinancing could help.This process will also combine all the loans you refinance into one convenient payment.If you're in the market to consolidate and better manage your student loans, National Debt Relief should be your first choice.
Ideally, you would qualify for debt consolidation after graduation.
However, you also could qualify when you leave school or are enrolled less than half-time.
You can’t consolidate private loans in the federal Direct Consolidation Loan program, but some private lenders allow you to consolidate federal and private loans together.
The Direct Consolidation Loan program is the right choice if your goal is to simplify the process and keep your options open for the many repayment plans available for federal loans. Your rate is determined by the weighted average of the interest on the loans being consolidated rounded up to the nearest one-eighth of 1%.
Their user-friendly website, including helpful articles to help students navigate the world of finance, makes it easy to understand all of your options.
So Fi is also the only lender we found that offers unemployment protection, which may allow you to suspend your loan repayments for up to 12 months if you lose your job.Whether you have federal student loans (such as Stafford, PLUS, or Federal Perkins loans) or private student loans, there are a number of student loan consolidation services that can help you consolidate your loans into one single debt.This can result in lower interest rates, and, in some cases, dramatically reduced monthly loan payments.You can find each lender below, along with information on rates, terms, and other key details. But remember, lowering your monthly payments could mean that you end up paying more in interest overall. Student loan consolidation: Consolidation is the process of combining your government loans so that you can make a single monthly payment.While a lower interest rate is good news, your new loan may not come with all the borrower benefits associated with government loans.