Consolidating private student loans calculator
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With an average balance of ,400, student debt is a big part of the average college graduate's life.
At Lend EDU, we help borrowers compare the top student loan companies in one place.
Below we've ranked the leading student loan refinancing and consolidation companies. There are many different benefits and drawbacks of what each student loan consolidation and refinancing lender offers, and it is important to be aware of all of them.
It is free to apply and the process usually takes about 15 minutes. You will find all of the necessary information below.Before you start an application, you should know that most lenders require a minimum FICO credit score of 660, 40% maximum monthly debt-to-income, and ,000 in yearly gross income.
If you have private loans, you have nothing to lose by refinancing.
But if you have federal loans, you need to make your refinance decision more deliberately.
After you are done, you will know how to refinance and consolidate student loans. You may now have a general idea of how to refinance student loans and how to consolidate student loans, as well as the basics of what each lender offers, but there is much more information you should know before choosing a lender.
See our top partners for refinancing student loans here to view available rates and terms.
To find out what rate you may be eligible for, please visit the lender websites.
Once you refinance federal loans, you’re not eligible for federal programs including forgiveness and income-driven repayment plans.
Wells Fargo provides many calculators and tools to answer your student loan questions.