With the Direct Consolidation Loan program your federal student loans will consolidate into one new loan.
You will only have one monthly payment, and one new interest rate.
Each of these lenders has unique product offerings and benefits.
It is good to compare all of these lenders before refinancing with anyone in particular.
The biggest benefit of consolidating student loans with a private lender is that you can save money on interest.
Student loan refinance and consolidation interest rates start below 2% for very qualified borrowers.There are plenty of private student loan refinance and consolidation lenders on the market these days.Private student loan consolidation is a rather new market, so the top lenders aren’t your traditional banks.Student loan interest can be very high for some borrowers.Are you stuck paying 6% on your federal student loan debt? You need to know that you can consolidate student loans to a lower interest rate with a private student loan lender.