So instead of making multiple monthly loan payments, you will only have to make one or two payments.
The median cost for all four years of schooling is 6,447 and 8,538 for public and private institutions respectively.
Lending services provided by Darien Rowayton Bank, Member FDIC. To qualify for the EFT discount of 0.25%, monthly payments must be paid automatically from a bank account.
FIXED APR Fixed rate options consist of a range from 4.20% per year to 6.15% per year for a 5-year term, 4.30% per year to 6.74% per year for a 7-year term, 4.75% per year to 7.00% per year for a 10-year term, 5.15% per year to 7.24% per year for a 15-year term, or 5.40% per year to 7.24% per year for a 20-year term, with no origination fees.
We recommend the lenders above because we thoroughly evaluated them. Can I consolidate private and federal loans together? You can also extend the term of your loan, at the same interest rate.
However, our team also researched other institutions and found some good alternatives for people that want to consider all options before they begin the process of refinancing or consolidating student loans. If you’re concerned about lowering your monthly loan payments, consolidation could be a good option for you.
So if your credit score improved compared to when you first got the private loan, there is a good possibility the lender will give you a lower interest rate.