2016 Best Companies to Refinance and Consolidate Your Student Loans

If you are overwhelmed with student loan debt or just looking for a way to save money on your loan repayment, student loan consolidation and refinancing could be the solution you’ve been looking for.

Many lenders or student loan consolidation companies now offer ways to consolidate both federal and private loans into a single loan. Often borrowers, who are now graduates with better credit and a higher income than when they initially took out loans, can qualify for significantly lower interest rates and better terms with a consolidation loan. This is great for borrowers, but what’s the catch? When including federal loans in student loan consolidation, borrowers may sacrifice benefits that come with federal loans, such as loan forgiveness programs and income-based repayment options.

More and more student Best Education loan  consolidation companies are entering the market for student loan consolidation and refinancing. There are a variety of types of lenders, including traditional banking institutions, credit unions, and new, nontraditional lending options. The traditional banks offer credibility but often have higher interest rates and sometimes stricter eligibility requirements. Credit unions offer similar loan options as traditional big banks, but they are less corporate and more customer and community-focused. Credit unions often offer lower interest rates than the big banks but may have a lower maximum loan amount. The new, nontraditional financial startups offer loan consolidation and refinancing that is more personalized with a focus on customer communication and ease of access.

Source: https://www.credible.com/blog/best-companies-to-refinance-and-consolidate-your-student-loans/