Best advice consolidating student loans

30-Nov-2018 15:03

It’s a new year—and the perfect time to take a fresh look at your student loans.

With recent changes in the financial landscape, now is a great time to consider a change if you are one of the 40MM individuals with student debt.

Refinancing and consolidating student loans can be a financial game changer: You can pay your debt in a single monthly payment and potentially lower your rates—meaning less interest and more peace of mind.

Here are our top five tips to help you navigate and understand student loan refinancing. What’s the balance owed and the interest rate for each loan?

Make sure to take inventory of the current loans you have. It’s important to know where you are today to better evaluate your best options for student loan refinancing.

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Additional benefits can also be helpful—like payment deferral (in case of job loss), career coaching, or discounts on other financial products that can save you money. Continue So Fi will not be your host while there and is not responsible for content provided by third-party sites.

Here are a few sites that may be helpful in finding the best match for your student loan refinancing: Student Loan Hero, Magnify Money, and Lendedu . Please note that you are subject to the destination site’s Privacy Policy and Terms & Conditions.

Q I graduated from college in May. I have a good job, but I have more than $100,000 in college loans from different banks coming due in two months. I need to consolidate them but have not found a bank willing to do so. I'm worried about keeping up. Can you help? A First, check to see if you have any federal loans, like.… continue reading »

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The concept of student loan consolidation is simple you apply for one large loan which will be used to pay off all your existing student loans. That single loan will be easier to manage, because you'll only make one monthly payment, and because it has a longer term than your old loans that payment will be smaller than the.… continue reading »

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Apr 15, 2009. Student-loan consolidation has its benefits, but it's not for everyone.… continue reading »

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Jun 12, 2015. You might have a mix of both federal and private loans and have several different loan servicers. This can make keeping track of your total debt, minimum payments, and monthly due dates confusing. Sometimes it might even cause you to miss payments. In cases like this, consolidating your student loans.… continue reading »

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