Consolidating private student loan fixed rate

13 May

Student loan refinancing: Refinancing is when a student loan lender buys out your existing loans, and gives you a single new loan with a potentially lower interest rate.

So if you feel like your interest rate is too high, refinancing could help.

However, our team also researched other institutions and found some good alternatives for people that want to consider all options before they begin the process of refinancing or consolidating student loans. If you’re concerned about lowering your monthly loan payments, consolidation could be a good option for you.

You can find each lender below, along with information on rates, terms, and other key details. But remember, lowering your monthly payments could mean that you end up paying more in interest overall.

For example, borrowers with federal student loans can take advantage of federal income-driven repayment programs, or benefits like loan forgiveness, which borrowers with private student loans typically don’t have access to.

: These examples above assume a ,000 loan, standard repayment of a loan with a borrower and a co-signer, the borrower is not currently enrolled in school, a 0.25 percentage point interest rate reduction for automating payments from an eligible Bank account (automated payments can be set-up using Kwik Pay through First Mark Services, our trusted servicing partner, at and 0.25 percentage point interest rate reduction towards loyalty discount if borrower or the co-signer (if applicable) has a qualifying account in existence with us at the time you and your co-signer (if applicable) have submitted a completed application authorizing us to review your credit request for an Education Refinance Loan.

Before consolidating student loans, a former student must determine whether they financed their education using federal loans, private loans, or a mixture of both.

This conclusion may not be as easy to determine and certainly would not be determined merely by asking “whether the student received funding from Chase.” Although Chase currently only provides private loans, not too long ago they were also providing funds for federal student loans.

Kinds Of Fixed Student Loans Some of the student loans fixed interest rate include Stafford Loans, Perkins Loans and PLUS Loans.Such changes will only apply to applications taken after the effective date of change. You can also combine multiple federal and private student loans into one convenient monthly payment.Plus, there's no prepayment penalty, and no application, origination or disbursement fees.The final monthly payment may be slightly lesser or more usually within a range of

Kinds Of Fixed Student Loans Some of the student loans fixed interest rate include Stafford Loans, Perkins Loans and PLUS Loans.

Such changes will only apply to applications taken after the effective date of change. You can also combine multiple federal and private student loans into one convenient monthly payment.

Plus, there's no prepayment penalty, and no application, origination or disbursement fees.

The final monthly payment may be slightly lesser or more usually within a range of $1 than the regular monthly payments shown above. Rate and payment information listed are estimates only.

Actual rates and payment information may vary based on applicable terms, degree selected and presence of a co-signer. Citizens Bank reserves the right to modify interest rates and loan margins at any time without notice. You may be able to lower your payment or interest rate.

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Kinds Of Fixed Student Loans Some of the student loans fixed interest rate include Stafford Loans, Perkins Loans and PLUS Loans.Such changes will only apply to applications taken after the effective date of change. You can also combine multiple federal and private student loans into one convenient monthly payment.Plus, there's no prepayment penalty, and no application, origination or disbursement fees.The final monthly payment may be slightly lesser or more usually within a range of $1 than the regular monthly payments shown above. Rate and payment information listed are estimates only.Actual rates and payment information may vary based on applicable terms, degree selected and presence of a co-signer. Citizens Bank reserves the right to modify interest rates and loan margins at any time without notice. You may be able to lower your payment or interest rate.

than the regular monthly payments shown above. Rate and payment information listed are estimates only.Actual rates and payment information may vary based on applicable terms, degree selected and presence of a co-signer. Citizens Bank reserves the right to modify interest rates and loan margins at any time without notice. You may be able to lower your payment or interest rate.