Consolidating student loans into direct loan mobile dating service
Repayment terms options may include 5, 7, 10, 15 and 20 years based on the amount of your loan and the credit qualifications of you, and your cosigner, if applicable.View APR examples Calculate your rate and payment ranges by answering just 3 questions without any personal information.And I am going to be straight with you: Private college loans are not ideal at any time, especially now, when many lenders have left the student loan business or curtailed their lending in the wake of the financial crisis. With a private loan consolidation, your FICO credit score will determine both whether you get a loan and what the initial rate will be.I contacted student loan guru Mark Kantrowitz at Fin Aid.org, who says just three lenders still offer consolidation: Chase, Student Loan Network, and Wells Fargo. You should also know that there are no fixed rates on consolidated private loans; your interest rate will probably be tied to a benchmark like the prime rate, so when that rises, so will the rate on your loan.Finally, if you have a solid job and a solid credit score, think about looking into a personal loan at a bank or credit union.
Refinancing offers a new interest rate as well as options to potentially lower your monthly payment or pay off your loan faster to reduce the interest paid over the life of the loan.Ask Suze a question or get another answer Please note: This is general information and is not intended to be legal advice.You should consult with your own financial advisor before making any major financial decisions, including investments or changes to your portfolio, and a qualified legal professional before executing any legal documents or taking any legal action.Keep in mind that if you reduce your monthly payment by extending your repayment term, you may pay more interest over the life of the loan.When you apply with Wells Fargo, we will help you to carefully review all of your options.
There is no fee to consolidate federal student loans into a Direct Consolidation Loan.