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      September 29, 2016
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Student Loan Consolidation
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Whether you have federal student loans (such as Stafford, PLUS, or Federal Perkins loans) or private student loans, there are a number of student loan consolidation services that can help you consolidate your loans into one single debt. This can result in lower interest rates, and, in some cases, dramatically reduced monthly loan payments. Many consolidation services offer fixed interest rates for the life of the loan, which can lock in your savings for years to come. This is good since consolidation loans typically have longer terms than other loans - usually anywhere from 10 to 30 years.

A recent study by the National Center for Education Statistics shows that half of all recent college graduates have an average student loan debt of $10,000. For some students, this amount is much higher. Additionally, many students receive loans from a number of sources.

There are many advantages to consolidating all of these loans into a single debt. With interest rates at record lows, you will most likely receive a better rate by consolidating your loans now than when you first got your loans. The second advantage is reducing the number of creditors you have, which makes it easier to keep track of monthly loan payments. Additionally, consolidating your student loans into a single debt simplifies the repayment process, making it less likely that you will default on your loan payments.

There are a number of services available to help you in this process. Some only offer federal student loan consolidation, while others enable you to consolidate both federal and private student loans. Therefore, it is important to make sure that the student loan consolidation service you choose meets your student loan consolidation needs. Additionally, while some websites provide instant, online loan quotes, other websites do not. You will want to make sure that the service you select provides you with the information you need to make consolidation decisions.

There are a variety of issues to consider when looking for a student loan consolidation plan. Some of these include:

  • Information. Does the website provide adequate information to help you make student loan consolidation decisions?
  • Quality of Service. Does the website provide consolidation solutions that meet your needs?
  • Professionalism. Is the website professional and credible? Does the consolidation service have a strong reputation in the industry?

TopConsumerReviews.com has reviewed the best student loan consolidation programs available today. We hope this information helps you select the student loan consolidation program that's right for you!

2016

Student Loan Consolidation Reviews

5 stars
National Debt Relief

NATIONAL DEBT RELIEFTopConsumerReviews.com Best-In-Class Blue Ribbon Award

National Debt Relief is a leading provider of financial solutions, and they have an impressive range of options for both private and federal student loans. This company comes with a strong reputation, maintains a strong "A" rating from the Better Business Bureau, and offers a 100% money back guarantee with their plans. If you're in the market to consolidate and better manage your student loans, National Debt Relief should be your first choice. Read More... Visit
Site

4.5 stars
Student Loan Consolidator

STUDENT LOAN CONSOLIDATOR

Student Loan Consolidator offers both federal and private student loan consolidation. They also offer special options, such as interest-rate reductions and interest-only payments. Additionally, they provide a toll-free number that enables you to contact loan counselors with any questions you might have. Read More... Visit
Site

4 stars
LendKey

LENDKEY

LendKey is an online provider of student loan consolidation services with strong customer reviews. Their ability to connect students with community banks and credit unions for both federal and private school loans makes them a good choice for most consumers, though occasional issues with the website may prove frustrating. Read More... Visit
Site

4 stars
Chase Loan Consolidation

CHASE LOAN CONSOLIDATION

Chase is a leading financial services institution and one you can trust when it comes to federal student loan consolidation. Their online application is quick and easy, and you can find out whether you are eligible for their services within moments. Chase has a professional website that is easy to navigate and use. However, Chase does not quite offer the same level of service as our higher-rated selection.
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Site

3.5 stars
Wells Fargo Student Loan Consolidation

WELLS FARGO LOAN CONSOLIDATION

Wells Fargo offers competitive loan consolidation for those who are consolidating only private student loans. They do not offer consolidation of Federal loans, which dropped them a bit in our ranking. Read More... Visit
Site

3 stars
Federal Loan Consolidation

FEDERAL LOAN CONSOLIDATION

Federal Loan Consolidation offers the consolidation of Federal Education Loans. The website is robust with information, but at times difficult to understand and lacks the professionalism that most people have come to expect.
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Site

Dee-1, who rapped about paying off his student loans, joins financial literacy campaign

New Orleans rapper Dee-1, whose music video about repaying his student loans went viral this year, is partnering with consulting firm PricewaterhouseCoopers to help students make smart financial decisions about college and their careers. "We want to ...

Published:  Wed, 28 Sep 2016 15:36:00 GMT



4 Easy Ways New Grads Can Save Money On Student Loans

Your six-month grace period on your student loans will be up before you know it. Matter of fact, if you graduated along with the majority of the other graduates in May of this year -- around November, ole Sallie is going to start paying a lot more ...

Published:  Tue, 27 Sep 2016 07:15:00 GMT



Opting for Student Loans? Here's How to Make the Most of the Transaction

These days, student loans are getting a bad rap. Collectively this is probably justified given the job market, high volume of students borrowing and rising costs. But for the well-informed, a federally subsidized student loan for a solid degree can be a ...

Published:  Wed, 28 Sep 2016 14:29:00 GMT



High school and university students balk at idea of interest on student loans

Anneke Tomkins, in year 13 at Auckland's Diocesan School for Girls, planned to study medicine at Auckland University next year, a long and expensive course. The idea of having interest added to her loan was daunting. "It's another pressure added on ...

Published:  Wed, 28 Sep 2016 20:59:00 GMT



Go to Prison and Get Your Federal Student Loans Forgiven

My friend Damon Day were talking about federal student loan issues and somehow we got to taking about inmates in a federal prison and how they could deal with their student loans. The conversation came around to wondering if inmates who had prison jobs ...

Published:  Wed, 28 Sep 2016 13:12:00 GMT



UW Credit Union expands eligibility as Scott Walker touts refinancing for student loans

More Wisconsin residents who borrowed money to pay for college will be able to refinance their student loan debt under expanded eligibility rules, UW Credit Union officials and Gov. Scott Walker said Tuesday. State officials also rolled out a new website ...

Published:  Wed, 28 Sep 2016 10:35:00 GMT



What can high school students learn about student loans from a rapper? A lot

Rapper Dee-1 with a group of high school seniors after they discussed student loans. "What skills do I need to be a rapper?" is not a phrase typically uttered during a class on college preparedness and financial literacy. And yet, Dee-1 (given name ...

Published:  Tue, 27 Sep 2016 09:57:00 GMT



Return to student loans, draft report says

Scrapping University Entrance and charging interest on student loans are among drastic measures being proposed for the tertiary sector in a new report. The Productivity Commission's draft report on new models of tertiary education says the tertiary system ...

Published:  Wed, 28 Sep 2016 10:49:00 GMT



 

 

 

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