Consolidating private and federal loans
And while our site doesn’t feature every company or financial product available on the market, we’re proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward –- and free. " There are two types of student loan consolidation: federal and private. We believe everyone should be able to make financial decisions with confidence. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. We're on your side, even if it means we don't make a cent.If you can lower your interest rates, more of your money can be used to reduce your debt, instead of paying off only your interest.Refinancing doesn’t guarantee lower payments, but it could help you get a lower interest rate and enable you to pay off your loan faster.
Each refinancing lender determines the rate they’ll offer a borrower on a case-by-case basis, so if you want to take advantage of the lowest interest rate available, it’s best to apply to many different lenders.
So if you feel like your interest rate is too high, refinancing could help.
This process will also combine all the loans you refinance into one convenient payment.
Subject to additional terms and conditions, and rates are subject to change at any time without notice.
Such changes will only apply to applications taken after the effective date of change.