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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!

Disclosure: We pay our reviewers for their reviews. We are not compensated by companies for their reviews, but we are compensated for links and advertisements on our website. Click here for details.

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.
Read More... Visit
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

New "playbook" for repaying student loans

Roughly 70 percent of student borrowers who have allowed their loans to go into default could have qualified for income-based repayment plans and avoided the high fees, bad credit and other miserable repercussions of failing to repay a student loan on time.

Published:  Fri, 29 Apr 2016 04:32:00 GMT



Why repaying your student loans could soon get easier

The Obama Administration announced new steps Thursday to help ensure that federal student loan borrowers know all their rights under the law. The Departments of Education and Treasury along with the Consumer Financial Protection Bureau unveiled a detailed ...

Published:  Wed, 27 Apr 2016 21:11:00 GMT



Many student loans are about to get more affordable

About 43 million people have student loan debt and, at $1.3 trillion, it's the biggest source of consumer debt behind mortgages. And it's strangling millions of families. Now, regulators are rolling out a program to help borrowers who may be struggling ...

Published:  Fri, 29 Apr 2016 04:21:00 GMT



Student Loan Debt Reaches $1.3 Trillion, President Obama Expands Repayment Options

The White House recently unveiled a new website that specifically caters to educational or student loans payments. The effort is part of a series of initiatives put forth to improve the way the government collects these fees. According to reports ...

Published:  Fri, 29 Apr 2016 01:00:00 GMT



White House Releases New Tool to Help You Manage Your Student Loans

If you need a lower student loan payment but don't know how to get it, answering five simple "yes" or "no" questions could now bring you closer to a plan. On Wednesday, the White House unveiled a new tool that shows which repayment options apply to you and ...

Published:  Fri, 29 Apr 2016 09:10:00 GMT



Cruz's position on student loans may hurt his appeal among young voters

AUSTIN, Texas - When Ted Cruz kicked off his White House bid at Liberty University, he told the crowd "y'all can probably relate" to the $100,000-plus in student loan debt he ran up in college and paid off only a few years ago. Since then he's ...

Published:  Sat, 23 Apr 2016 20:18:00 GMT



 

 

 

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