Best Loan Consolidation Companies Student Loans

Find the best student loan refinancing and consolidation companies.

Best loan consolidation companies student loans. Most lenders offer fixed rate personal loans with rates that don t change while others offer both fixed and variable rate loans. Direct loan consolidation vs. The best student loan refinance company is the one that can reduce your rate the most. Loan amounts of 1 000 to 50 000.

Read hundreds of customer reviews. Soft credit check that delivers a rate quote in minutes for upstart debt consolidation loans. You refinance student loans with a private lender but you consolidate loans by taking out a direct consolidation loan from the federal government. Federal consolidation combines federal student loans into one new loan and it lets you choose new repayment terms.

Consolidation is different from a student loan refinance mainly because this option is only available for federal student loans and borrowers will retain benefits associated with federal loans. There are 16 choices for repayment terms so you can find an option that fits your budget. Compare student loan consolidation vs refinancing options. A lower interest rate makes your loan cheaper so this should be the primary factor when comparing debt consolidation loan companies.

Refinancing student loans doesn t make sense if student loan consolidation is a better choice. Student loan hero is owned by lendingtree. Overall high loan amounts flexible repayment earnest offers loans with competitive rates high maximum loan amounts and repayment flexibility for borrowers making it our 1 best place to refinance student loans. If you have federal student loans for example you can choose between a federal direct consolidation loan or refinancing with a private company.

Consolidation does nothing for your interest rate but it does make your loans easier to manage says travis hornsby founder of student loan planner a consulting firm that helps borrowers manage student loans. In addition earnest serves a wide range of borrowers by refinancing. Collect rate quotes from at least a few private lenders and compare these to each other as well as your current rates. If you choose to refinance and have federal student loans you ll be giving up your federal student loan protections including student loan forgiveness deferment forbearance and income driven.

But make sure you re comparing apples to apples. First you should consider the costs of refinancing student loans. We recommend that you start here and comparison shop between lenders in order to get the best rates on your loan.