Consolidating school loans rates


07-Mar-2020 03:00

Private student loans and federal student loans have separate consolidation procedures.By separating and being aware of which kinds of loans you have, you will be able to identify what your consolidation options are.Each lender’s policy is different, so be sure to explore your options before you pick the one that works the best for your situation.Usually, the only qualification for a federal student loan consolidation program is that your loans are federal loans and not private (or have been consolidated previously by a private lender).Lend Key allows you to consolidate both your federal and private loans into one, allowing you to better manage your finances.They offer both a variable (as low as 2.90% APR) or a fixed (3.15% APR) rate.

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The following is a list of some of the top lenders in the industry.In order to get the lowest monthly payment possible in this situation it is helpful to consult a student loan specialist.If you have private student loans, the basic qualifications for refinancing are: Applying for the Federal Student Loan Consolidation program can be done electronically or through a paper application process.The electronic application usually takes around a half an hour to fill out and requires you to have a verified FSA ID, basic contact information and income verification.

Application requirements for student loan refinancing vary between lenders.

They offer variable (2.57-6.84% APR), fixed (3.18-7.24% APR) or hybrid (3.89-6.24% APR) rates. So Fi is one of the most popular student loan lenders out there.