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      September 20, 2017

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Best Student

Loan Consolidation

  1. SoFi
  2. Student Loan Cons
  3. LendKey
  4. Chase Loan Cons
  5. Wells Fargo

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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.

Continue reading below reviews

2017

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.
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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

Continued from above

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. Many students receive loans from a variety 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. Consolidating your student loans into a single debt also 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!

High Anxiety As First Student Loan Forgiveness Program 'Graduates' Await Relief This October

For debt-ridden Americans in federal student loan forgiveness programs, October is a month of hope and trepidation. The first wave of college graduates who were accepted into the Public Service Loan Forgiveness Program 10 years ago and made their payments ...

Published:  Tue, 19 Sep 2017 12:37:00 GMT



Student Loan Creditor, Fined for "˜False' Lawsuits, Must Halt Collections

One of the nation's largest holders of private student-loan debt must refund millions of dollars to borrowers and temporarily stop many of its collection activities, under a settlement with federal regulators announced on Monday. The creditor, the ...

Published:  Mon, 18 Sep 2017 20:30:00 GMT



Student loan companies reach $21.6 million settlement over dubious debt collection lawsuits

Thousands of people who have been sued over past-due education debt are set to receive restitution from a $21.6 million government settlement with one of the largest owners of private student loans, National Collegiate Student Loan Trusts. On Monday, the ...

Published:  Mon, 18 Sep 2017 13:54:00 GMT



Loan creditor fined $19M for suing students with 'false' legal documents

The Consumer Financial Protection Bureau on Monday fined a student loan creditor, the National Collegiate Student Loan Trusts, and its debt collector nearly $22 million, charging them for aggressively suing students for debts that they allegedly couldn't ...

Published:  Mon, 18 Sep 2017 10:56:00 GMT



Thousands of private student loan borrowers will get debt relief

The nightmare is almost over for thousands of people who faced illegal student debt collections lawsuits. The Consumer Financial Protection Bureau took action Monday against National Collegiate Student Loan Trusts, which owns more than 800,000 private ...

Published:  Mon, 18 Sep 2017 00:27:00 GMT



U.S. cracks down on debt collection of private student loans

The U.S. Consumer Financial Protection Bureau said on Monday it had ordered National Collegiate Student Loan Trusts and their debt collector, Transworld Systems, Inc to pay at least $21.6 million in penalties and restitution for illegally filing debt ...

Published:  Mon, 18 Sep 2017 10:27:00 GMT



CFPB Fines Two Groups Over Collection of Private Student Loans

WASHINGTON-The Consumer Financial Protection Bureau said Monday that it has fined a large holder of private student loans and its debt collector, alleging they sought to go after debts based on false or misleading legal documents. In a case that could ...

Published:  Mon, 18 Sep 2017 14:14:00 GMT



CFPB orders student-loan company to pay at least $19.1 million

Richard Cordray's agency, the Consumer Financial Protection Bureau, struck a deal with a company the bureau accused of mistreating student loan borrowers. Over the past several years, a student loan trust has sued borrowers to repay debt that the ...

Published:  Mon, 18 Sep 2017 14:58:00 GMT



Outstanding Student Loan Counselor Honored with NFCC® Counselor of the Year Nomination

SUGAR LAND, Texas, Sept. 19, 2017 /PRNewswire-USNewswire/ -- Money Management International (MMI) is pleased to nominate Taunya Kennedy of Chicago, Illinois for the 2017 NFCC Counselor of the Year. The award will be announced during the NFCC Connect ...

Published:  Tue, 19 Sep 2017 03:00:00 GMT



CORRECTED-UPDATE 2-U.S. cracks down on debt collection of private student loans

WASHINGTON, Sept 18 (Reuters) - The U.S. consumer financial watchdog on Monday ordered National College Student Loan Trusts and its debt collector, Transworld Systems Inc, to pay at least $21.6 million for attempting to collect on possibly non-existent or ...

Published:  Tue, 19 Sep 2017 07:50:00 GMT



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