Lowest interest rate for consolidating college loans

Student loan debt is a grave concern in modern America.In fact, the amount of debt from student loans topped

Student loan debt is a grave concern in modern America.In fact, the amount of debt from student loans topped $1.3 trillion at the end of 2016, and 68% of seniors graduating from public and nonprofit colleges have student debt – the average is $30,100.Private student loans can also come in handy for unexpected educational costs that aren’t covered by a federal loan.

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Student loan debt is a grave concern in modern America.

In fact, the amount of debt from student loans topped $1.3 trillion at the end of 2016, and 68% of seniors graduating from public and nonprofit colleges have student debt – the average is $30,100.

.3 trillion at the end of 2016, and 68% of seniors graduating from public and nonprofit colleges have student debt – the average is ,100.Private student loans can also come in handy for unexpected educational costs that aren’t covered by a federal loan.

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We start by discussing the basics of student loan consolidation and refinancing, and comparing the benefits and drawbacks of federal and private consolidation loans.We then detail a step-by-step guide to using and choosing consolidation loans.Refinancing and consolidating student loan debt can be a great way to save money and take advantage of today’s low interest rates.Refinancing can save you money each month through lower payments, and save you money over the life of the loan through lower interest rates.The company has refinanced 0 million in student loans since 2012.

“And that’s just the tip of the iceberg,” said CEO Mike Cagney.

Direct consolidation loans are now the only type of federal student consolidation loan.

Under the Direct Loan Consolidation Program, you can consolidate Subsidized and Unsubsidized Stafford Loans, Supplemental Loans for Students (SLSs), Federally Insured Student Loans (FISLs), PLUS Loans, Direct Loans, Perkins Loans, Health Education Assistance Loans (HEALs), and just about any other type of federal student loan.

The last section is dedicated to identifying the best private consolidation loans for those with a few different financial profiles.

There are two types of consolidation loans: federal and private, and they each come with distinct advantages and drawbacks.

In January, RBS Citizens Financial Group, which operates Citizens and Charter One banks, introduced a new Education Refinance Loan, with fixed rates as low as 4.75 percent APR and variable rates starting at 2.8 percent APR.