Consolidating student loans through federal government
We put together this guide to help you get information on all of the top student loan refinance lenders without having to jump around multiple websites.
After you are done, you will know how to refinance and consolidate student loans. You may now have a general idea of how to refinance student loans and how to consolidate student loans, as well as the basics of what each lender offers, but there is much more information you should know before choosing a lender.
Even if your rates seem high, t he Department of Education puts a cap on consolidation loan rates at 8.25 percent.
When it comes to consolidation, the types of loans you have matters, but most federal loans, including Stafford, Perkins, Direct Plus and Supplemental loans, can be consolidated with other federal student loans."The interest rate on (federal) consolidation loans is an average of the interest rates on the (federal) loans you're consolidating," says Ken O'Connor, director of student advocacy for Fynanz, a New York City firm providing technology for the private student loan market.
Today, the answer to that question is probably yes!
7 out of 10 graduates are now graduating with some form of student loan debt.
When expenses prevail beyond the scope of free-money grant awards, college students turn to loans for additional assistance.
Unlike scholarships and grants, loans are eventually repaid, so prudent borrowing keeps student loan payments low, following graduation.