And while you’re at it, check out So Fi’s new Student Loan Debt Navigator tool to assess your student loan repayment options. With prevailing interest rates at historic lows, some private lenders offer rates that are significantly better than a high-rate federal loan.This is particularly true for grad school borrowers who use unsubsidized Direct loans and Graduate PLUS loans to finance their education.Multiple student loan bills can quickly become a burden between the everyday tasks of life and responsibilities of going to school.A student loan consolidation will simplify your finances since you will only need to keep track of a single student loan bill each month.Most of them could streamline the repayment process by consolidating their student loans. Get Financial Help Now It simplifies repayment and could save you money.It is quite common for people with student loans to deal with 10-12 lending institutions, which means 10-12 payments and 10-12 due dates each month.
Although the terms are often used interchangeably, they are not the same thing.
offer benefits and protections that do not transfer to private lenders.
This is often the reason that people cite when they say you shouldn’t combine federal and private loans.
Student loan consolidation and refinancing both result in a single monthly bill, however student loan refinancing could result in significant savings.
Debt consolidation means taking out a new loan to pay off a number of liabilities and consumer debts, generally unsecured ones.
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