Consolidating student loans in
And while you’re at it, check out So Fi’s new Student Loan Debt Navigator tool to assess your student loan repayment options. With prevailing interest rates at historic lows, some private lenders offer rates that are significantly better than a high-rate federal loan.
This is particularly true for grad school borrowers who use unsubsidized Direct loans and Graduate PLUS loans to finance their education.
Private consolidation is often referred to as refinancing.
These processes are often confused, but they’re very different.
Refinancing your debts, and consolidating them into one low-interest loan may help make your month-to-month payments easier, and save you thousands of dollars over the lifespan of the loan.
This is often the reason that people cite when they say you shouldn’t combine federal and private loans.
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We’ve got you covered with our Student Loan Smarts blog series.
Our expert tips and hacks will help you save money, pay off loans sooner and stress less about student loan debt.
Read the other posts in the series here—and get all the info you need to make intelligent decisions about your student loans.