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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
A new lawsuit alleges that the U.S. Department of Education, led by Betsy DeVos, is still collecting student loan payments from borrowers who are supposed to receive student loan forgiveness. Here's w...
Published: Thu, 15 Nov 2018 04:32:00 GMT
The students attended institutions with pragmatic names like the Minnesota School of Business and others whose branding evoked ivy-draped buildings and leafy quads, like Corinthian Colleges. Tens of t...
Published: Mon, 12 Nov 2018 19:24:00 GMT
A ruling by a federal judge last month seemed like it would end a long legal battle between Education Secretary Betsy DeVos and tens of thousands of student loan borrowers waiting to have their debts ...
Published: Wed, 14 Nov 2018 16:53:00 GMT
EMERYVILLE, Calif., Nov. 15, 2018 /PRNewswire/ -- Many students feel they need to borrow money for higher education, but which student loans are the right ones to take With federal and private ...
Published: Thu, 15 Nov 2018 05:12:00 GMT
Student debt can be a real drag, a new study shows. This photo was taken even before American student debt hit a record $1.5 trillion. Student-loan debts are crippling the finances of Americans and se...
Published: Wed, 14 Nov 2018 10:24:00 GMT
NerdWallet adheres to strict standards of editorial integrity to help you make decisions with confidence. Some of the products we feature are from partners. Here's how we make money. We adhere to stri...
Published: Tue, 13 Nov 2018 09:06:00 GMT
A lawsuit filed Tuesday against Education Secretary Betsy DeVos asserts that the Education Department - as required by an Obama-era regulation - is failing to cancel student loans for borrowers whose ...
Published: Thu, 15 Nov 2018 09:01:00 GMT
It would be super simple to fill up this column with horrifying statistics about student loan debt in America: we collectively owe $1.5 trillion, which works out to a just shy of $30,000 per borrower. ...
Published: Thu, 15 Nov 2018 05:54:00 GMT
ROHNERT PARK, Calif., Nov. 15, 2018 /PRNewswire/ -- Adulthood is full of new experiences and the desire for even more. But student loans may be stifling the ability to gain experiences. Ameritech Fina...
Published: Thu, 15 Nov 2018 04:00:00 GMT
Online lender CommonBond has partnered with Fifth Third Bank to provide students a path to better manage their student loans. Fifth Third Bank is also an investor in the Fintech platform. CommonBond i...
Published: Thu, 15 Nov 2018 07:44:00 GMT
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