Over the course of a student’s post-secondary education, he or she may enter into multiple loan arrangements, with private lenders, as well as the Department of Education.
Perkins Loans fill gaps left after other financial aid is expended.
Funding is limited, so your best bets for securing a loan are to file early, and meet federal financial aid eligibility requirements.
If the requirements above sound good, we think that you are a great applicant for student loan refinancing and consolidation.
Each lender has its own specific underwriting criteria, so you may have a higher chance of approval at certain lenders.
But with $100,000 in debt, you probably have some private loans in your portfolio, too.
And I am going to be straight with you: Private college loans are not ideal at any time, especially now, when many lenders have left the student loan business or curtailed their lending in the wake of the financial crisis. With a private loan consolidation, your FICO credit score will determine both whether you get a loan and what the initial rate will be.Students with multiple federal loans are increasingly concerned about how they will meet repayment obligations after graduation.The good news for college students, and graduates carrying multiple individual student loans, is that the Department of Education operates an established program allowing more than one loan to be bundled together under a single, renegotiated repayment contract.With an average balance of ,400, student debt is a big part of the average college graduate's life.At Lend EDU, we help borrowers compare the top student loan companies in one place.This guide was made to clear up the confusion in the private student loan market and to help students and their families make the best decision.