Student Loan Consolidation Reviews
Student Loan Consolidation Reviews
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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.
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.
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.
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.
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.
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.
Student Loan Consolidation
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. 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:
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!
Student Loans In The News
According to Goldman Sachs, the outstanding student loan balance has reached $1.3 trillion in face value, about the size of the high-yield corporate-bond market. This outstanding debt is not without problems, as it delays homeownership for some millennials ...
Published: Sun, 17 Dec 2017 11:29:00 GMT
The D.C. government's efforts to protect residents from abusive practices in the student loan market could be undermined by the House Republican higher education bill. [House GOP higher ed bill moves ahead, despite cries to slow down] The District ...
Published: Thu, 14 Dec 2017 20:00:00 GMT
Millions of Americans can not pay off student loans. Julio Cortez/AP Almost 5 million student loans have gone unpaid for a significant amount of time. Federal and private loans are going into default, making it harder for loan holders to establish credit ...
Published: Thu, 14 Dec 2017 20:32:00 GMT
Student debt levels are soaring - and so are defaults on educational loans. A New York Times investigation found that some creditors are taking extreme measures to get paid. In many cases, those measures are costing people the jobs they need to pay back ...
Published: Fri, 15 Dec 2017 05:14:00 GMT
Senate and House Republican leaders have agreed to abandon many of the controversial proposals that higher education leaders and students had rallied to thwart, according to congressional aides. Under the agreement, tuition waivers received by graduate ...
Published: Sat, 16 Dec 2017 11:08:00 GMT
by Joseph Lawler | Dec 15, 2017, 5:43 PM Share on Twitter Share on Facebook Email this article Share on LinkedIn Print this article All the individual tax cuts would expire in 2025, which helped Republicans stay below the $1.5 trillion limit. But they say ...
Published: Sun, 17 Dec 2017 11:00:00 GMT
The Higher Education Act of 1965 was first enacted to strengthen colleges' and universities' resources and give higher education students financial help. Congress must reauthorize the act periodically, giving lawmakers a chance to review the existing ...
Published: Thu, 14 Dec 2017 21:20:00 GMT
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