Where To Consolidate Private Student Loans

Federal loans carry special benefits not available for loans made through splash financial for example public service loan forgiveness and economic hardship programs fee waivers and rebates on the principal which may not be accessible to you after you refinance.

Where to consolidate private student loans. A direct consolidation loan allows you to consolidate multiple federal education loans into one loan at no cost to you. Only about 6 of all student loan borrowers have at least one private student loan. Consolidating your federal and or private student loans with wells fargo may help you take control of your finances by creating a single private loan with a new interest rate one monthly payment and a new repayment term of your choice. Nevertheless there are several options for refinancing private education loans.

A private student loan is financing that you get through a bank credit union or other private lender. This could result in a lower interest rate and or a lower monthly payment. Refinancing is available for federal private and parent plus loans including undergraduate graduate mba law dental and medical loans. Learn about the different ways to consolidate student loans the differences between federal private student loan consolidation repayment plan options forgiveness.

If you have multiple student loans you may be able to combine them into one loan with a fixed interest rate based on the average of the interest rates on the loans being consolidated. Learn more about loan consolidation. Splash financial is a student loan refinance lender operating in all 50 states. How to consolidate private student loans so you can pay them off faster.

Private student loan consolidation or refinancing means replacing multiple student loans private federal or a combination of the two with a single new private loan. 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. A consolidation loan allows you to refinance one or more loans into one new loan with a new interest rate and or payment term. Private student loans cannot in general be consolidated with federal student loans the low interest rates on federal consolidation loans are not available to private education loans.

What is private student loan consolidation.