Frequently Asked Questions about Consolidating Student Loans

Here are the answers to the most commonly asked questions about student loan consolidation. you have further questions, get in touch with us on our contact us page.

What is student loan consolidation?

Student loan consolidation combines your student loan debts into one, lower-interest loan. If you consolidate student loans, you can reduce monthly payments, lower interest rates, and extend your repayment period.

How do I consolidate student loans?

You can consolidate student loans by clicking “apply now” anywhere you see it on our site. Our application will take you only minutes to fill out and is completely free. We make consolidating your student loans easy by letting you complete the entire loan application process online.

What kinds of student loans can I consolidate?

You can consolidate any type of student loan, whether private or federal. However, only federal loans are eligible for federal student loan consolidation. For private student loans, you can apply for a private consolidation loan. We offer both private and federal student loan consolidation.

Why should I consolidate student loans?

Consolidating student loans can reduce your payments by over half. You will also enjoy the convenience of making one, easy monthly payment instead of paying on multiple loans. Many student loans also have interest rates that can increase in the future. By consolidating, you will lock in a low, fixed rate for the life of the loan. Finally, you can also extend your repayment period on your student loans to up to 30 years. This will give you more time to repay your debts.

Can I still consolidate student loans if I have bad credit?

With federal student loan consolidation, there is no credit check and no co-signer required. The program is federally-sponsored and completely free. You can take advantage of federal consolidation loans regardless of your credit history. Credit checks are a part of private student loan consolidation, but you can add a co-signer if you do not qualify on your own. After making so many consecutive payments on time, you can release your co-signer from the agreement.

When is the best time to consolidate student loans?

The best time to consolidate student loans is during their grace or deferment period. However, you can consolidate student loans at any time. The important thing is to act now, as interest rates on student consolidation loans are at historic lows.