Consolidating student loans lower interest


15-Apr-2017 19:57

Finding the right bank to refinance or consolidate your student loans is confusing.Fortunately, we’ve highlighted the six best banks and lenders to help you refinance and consolidate both private and federal student loans, based on your financial situation.Learn more A "soft" credit check allows a lender to check the applicant's credit and provide the applicant with an estimated interest rate without affecting their credit score.This is unlike a "hard" credit check, which may impact an applicant's credit.

consolidating student loans lower interest-15

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In general, the shorter the term, the lower the interest rate and the higher the monthly payments.If you meet these requirements, you might be an excellent candidate for student loan refinancing and consolidation!If you don’t think you meet the requirements, don’t worry – as you can apply with a cosigner to increase your chances of getting approved for a better student loan.With student loan consolidation, you may be able to refinance at a lower interest rate, decrease your monthly payment, or both!

When you apply, most banks and lenders will look at your credit score, annual income, savings, and college degree type (or certificate of enrollment if still in school).The average amount borrowers have saved by refinancing with this lender.