Consolidating your federal loans through the Department of Education is free; steer clear of companies that charge fees to consolidate them for you.
When you consolidate federal loans, your new fixed interest rate will be the weighted average of your previous rates, rounded up to the next ⅛ of 1%.
Today, the answer to that question is probably yes!
7 out of 10 graduates are now graduating with some form of student loan debt.
Federal student loan consolidation basics How to consolidate federal student loans Benefits of federal consolidation Drawbacks of federal consolidation Private student loan consolidation (student loan refinancing) When you consolidate federal loans, the government pays them off and replaces them with a direct consolidation loan.
You’re generally eligible once you graduate, leave school or drop below half-time enrollment.
No origination fees in most states, no prepayment penalties.
Whether you’re looking to refinance federal student loans, pay off loans sooner, or get a lower monthly payment (maybe all three), we offer a range of rates and terms.
A lion’s share of federal financial aid originates from the Pell Grant and William D. Select economically disadvantaged students are eligible for additional student aid designed to increase college access for society’s neediest groups.
We put together this guide to help you get information on all of the top student loan refinance lenders without having to jump around multiple websites.
After you are done, you will know how to refinance and consolidate student loans. You may now have a general idea of how to refinance student loans and how to consolidate student loans, as well as the basics of what each lender offers, but there is much more information you should know before choosing a lender.
Plus, as a member, you’ll have access to a whole lot of perks: career strategy services, customer support seven days a week, invites to So Fi events, and more.
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