Today, graduates are leaving campus holding a diploma in one hand and an average of ,000 in debt in the other.
In America, student debt is the second largest form of consumer debt.
By now you should know the basics behind student loan consolidation and refinancing.
Now, we would like to present unbiased descriptions of the 11 major student loan consolidation companies.
Student Loan Hero provides customers with the support they need to organize, manage and repay their student loans.
Based in Austin, Texas, the company has helped more than 60,000 Americans to get out of debt faster.
Should I refinance my student loans with fixed or variable interest rates? How do I consolidate or refinance my student loans? How much can I save by refinancing my student loans?
Student loan refinancing: Refinancing is when a student loan lender buys out your existing loans, and gives you a single new loan with a potentially lower interest rate.
(Note: You cannot consolidate federal and private student loans together through the federal government, either.) You can consolidate an existing Direct Consolidation Loan so long as you have a new eligible loan with which it can be consolidated.So if you feel like your interest rate is too high, refinancing could help.This process will also combine all the loans you refinance into one convenient payment.Unfortunately, our nation’s education system, politicians, and students haven’t figured out a solution.In short, when you refinance your student loans, your new lender will pay off your old loans and issue you a new one.