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      February 24, 2018

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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

2018

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

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!

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The Brookings Institution has released a new research report by Adam Looney and Constantine Yannelis looking at student borrowers with very high balances. The research provides a good reminder that borrowers with high balances, who often feature ...

Published:  Thu, 22 Feb 2018 16:54:00 GMT



The massive student loan debt burden is a huge financial challenge for women

The massive burden of student loan debt held in the U.S. is a critical financial issue for women. "In case you missed it, graduates in the United States owe an effing fortune in student loan debt, more than $1.3 trillion. And we women, we women hold ...

Published:  Thu, 22 Feb 2018 16:57:00 GMT



Should I pay off my student loans early

I have a student loan with a balance of $95,000 that has an interest rate of 2.4% over 20 years. I save at least 18% of each paycheck for retirement and only pay the minimum on my student loan balance. If I have money left over at the end of a pay period ...

Published:  Thu, 22 Feb 2018 07:11:09 GMT



New Student Loan Promotions Help Borrowers

During the game, beer brand Natural Light advertised a video contest that will give 25 winners $40,000 each to help repay their student loans. This promotion giving away a total of $1 million in prize money has received a lot of media coverage - though ...

Published:  Thu, 22 Feb 2018 18:26:00 GMT



Betsy DeVos may make it easier for student loan borrowers in bankruptcy

The Department of Education may make it easier for people filing for bankruptcy to get out of their student loans. Currently, borrowers must still repay their student loans even if their other debts have been wiped away after filing for bankruptcy ...

Published:  Thu, 22 Feb 2018 15:34:05 GMT



What Parents Can Do to Reduce Borrowing and Repay College Loans

Adam Minsky, a Boston-based lawyer, has been coaching student borrowers on how to deal with poor loan servicing, unscrupulous debt collectors and unsavory lenders since he started his legal practice in 2011. But in recent years, parents who've taken out ...

Published:  Thu, 22 Feb 2018 18:23:00 GMT



Should you pay off your student loans as fast as you can Experts say it depends

(Meredith/CNN Money) -- If you have money left over after a paycheck, what should you do with it Should you invest it or use it to pay down your student debt faster The short answer is to try to do both. "If there's money left over at the end of the ...

Published:  Thu, 22 Feb 2018 06:41:00 GMT



Should You Pay Down Student Loan Debt or Save for a House

As people graduate college, get their first job and start wanting to settle down, it's common for a person to find themselves having to decide whether they should save for a down payment on a home or to focus on paying off their student loans. It can be ...

Published:  Thu, 22 Feb 2018 17:15:00 GMT



Proposed Fed. Budget To Impact Student Loans, CalFresh

President Trump's proposed 2019 budget will eliminate subsidized loans and change CalFresh benefits, directly impacting UC Santa Barbara students. The proposed changes to student loans would save the federal government about $6 billion in fiscal year 2019.

Published:  Wed, 21 Feb 2018 23:51:00 GMT



Making Cents: Student loans

News 12's Kristie Reeter and money expert Jamila Souffrant talk about forming a strategy to stay free of debt. News 12's Kristie Reeter and money expert Jamila Souffrant talk about forming a strategy to stay free of debt. News 12's Kristie Reeter and money ...

Published:  Wed, 21 Feb 2018 14:16:00 GMT



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