Consolidating student loans info
In this guide: Each student loan refinance lender has its own specific underwriting criteria, so your approval odds may be higher at one lender than another.Our detailed reviews of the best student loan refinance companies can help you better compare your options to ensure you find the lowest rate, friendly repayment terms, and more.The best lenders listed below are determined by our Editorial Ratings which analyze over 20 data points from 18 refinancing companies.These ratings are completely objective and are not influenced by compensation in anyway.For federal loans, the interest rate is determined by averaging all the interest rates on your current loans and then rounding up to the nearest one-eighth of 1 percent.No sign-on or origination fees are required, the interest rate is locked in for the life of the loan and you can select a payment option that suits you best.
This means the student will only make one payment a month, and consolidating often reduces the amount paid each month by as much as 50 percent.
We help borrowers compare the best refinance and consolidation companies in one place.
All of the banks and lenders below allow borrowers to refinance student loans, as well as consolidate them during the process.
Our editorial staff does not receive direction from advertisers on our website or our Partnerships Team.
Our company may receive compensation from partners seen on our website. Deciding where to refinance your student loans can be difficult.Unfortunately, as of April 2011 Next Student is not accepting private loan consolidation.