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Student Loan Consolidation Better Business Bureau Reliability Seal

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
SoFi

SOFI

SoFi (which is pronounced "SEW-fi", short for "SOcial FInance") is one of the most innovative resources available for both federal and private student loan consolidation. Their user-friendly website, including helpful articles to help students navigate the world of finance, makes it easy to understand all of your options. SoFi is also the only lender we found that offers unemployment protection, which may allow you to suspend your loan repayments for up to 12 months if you lose your job. SoFi should absolutely be on your short list for lenders if you're looking to consolidate your student loans.
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.
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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

U.S. may forgive more than $100 billion in student loans

America's student debt load has grown into a $1.3 trillion headache, but the migraine appears to worsening. With more borrowers struggling to handle their loan repayments, the U.S. government created a system that rejiggers their debt according to their ...

Published:  Thu, 01 Dec 2016 11:32:00 GMT



Trump Effect May Drive Up Rates On Student Loans

Although Donald Trump won't be sworn in as the 45th President of the United States until Jan. 20, 2017, the "Trump Effect" is already sending ripples through financial markets as investors and world leaders adjust their assumptions about U.S. policies.

Published:  Tue, 29 Nov 2016 17:16:00 GMT



People who thought their student loans would be forgiven in 2017 are in for a surprise

Almost no one will qualify for a program that forgives the debt of borrowers who have worked in public service for a decade next year, the first year that forgiveness becomes available, the government predicts. President George W. Bush signed the Public ...

Published:  Wed, 30 Nov 2016 01:19:00 GMT



US plans to forgive $108 billion in student loans

A new federal report shows that the government is expected to forgive at least $108 billion in student debt in the coming years. The relief is part of an Obama administration plan to help borrowers, but is proving far more costly than previously thought.

Published:  Fri, 02 Dec 2016 00:47:00 GMT



How Trump's Presidency Might Change Student Loans

Whether you were a Trump supporter or not, the $1.3 billion student debt issue is one that needs to be tackled. Trump called student debt an 'albatross' around the necks of borrowers. While he didn't spend a lot of his election talking about student ...

Published:  Fri, 02 Dec 2016 05:58:00 GMT



Number of private student loans on the decline

While rising college loan balances remain a cause of concern, there is a bit of good news. The number of students using private loans from commercial financial institutions has declined while the number of those opting for federal loans has risen.

Published:  Fri, 02 Dec 2016 07:26:00 GMT



Parliament Overhauls Vocational Education Sector, Launches New Loans Program

Starting on January 1, the new VET Student Loans program will be replacing the VET FEE-HELP program which had been the center of scandals for the past years. "VET Student Loans will ensure students and taxpayers are protected, that skills shortages are ...

Published:  Fri, 02 Dec 2016 07:28:00 GMT



Student debt weighs down millennials' future

Like many millennials, Prigge, 29, amassed tens of thousands of dollars in student loans and will spend years paying for it. She dreams of the day when she can focus on just being a teacher, but even if everything goes according to plan, she still has ...

Published:  Fri, 02 Dec 2016 06:27:00 GMT



Practical Tips to Afford the Holidays, Student Loans

With Thanksgiving behind us, we've officially begun our sprint into the holiday season - and all the pressures that come with it. Finding the right gift is tough, but affording them can feel impossible if you're struggling with student loans. While your ...

Published:  Wed, 30 Nov 2016 07:00:00 GMT



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