Benefit of consolidating student loans
If any loans you want to consolidate are in a grace period, you can request to delay the processing of your consolidation loan until the end of your grace period.On your application, you must enter the month and year your grace period is expected to end.Most borrowers will need a cosigner for this loan to meet credit, employment, and debt-to-income requirements.
This can potentially lower your monthly payment by qualifying for a lower interest rate or extending the loan repayment term.
If financial hardship makes it difficult to remain current on the loan payments, we encourage you to talk to us to see what options are available.
Variable interest rates are based on market conditions, so if market rates go up, so do your interest rate and monthly payments.
Your actual APR will depend upon your credit transaction and credit history, and will be determined when a credit decision is made.
Are you tired of managing multiple federal student loan payments, with multiple interest rates or multiple servicers? Consolidation gives you: One loan, one fixed interest rate, one monthly payment, one student loan servicer—of your choice, and no consolidation fee.