Consolidating student loan rates

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If you're consolidating with the federal government, consolidating your loans means combining your multiple federal student loans into one new federal loan, called a Direct Consolidation Loan.You have some flexibility in picking your loan term, but you'll simply receive an interest rate that's a weighted average of your existing rates.With Lend Key’s student loan consolidation and refinancing, you can combine your federal and private student loans into one convenient payment with a lower interest rate.

It's important to understand and carefully consider all factors before consolidating.Check out the official government site for all the details on eligibility.If you're consolidating with a private lender, consolidating your loans means combining and refinancing your loans into one new private loan.Here's the rundown you need to determine whether student loan refinancing and consolidation is right for you.First, what does consolidating student loans really mean?Depending upon the total balance you are consolidating, you may extend the repayment period for up to 30 years with consolidation.

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