Low rate for consolidating student loan Liveteen camstv

Posted by / 09-Apr-2016 04:28

Low rate for consolidating student loan

Your repayment term will generally start within 60 days of when your consolidation loan is first disbursed and will be based on your total federal student loan balance, among other factors; click on the link below for more details.

Applying for consolidation takes most borrowers less than 30 minutes, according to the Federal Student Aid website.

You typically need a credit score at least in the high 600s to qualify, and rates range from around 2% to more than 9%. And while our site doesn’t feature every company or financial product available on the market, we’re proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward –- and free. " There are two types of student loan consolidation: federal and private. We believe everyone should be able to make financial decisions with confidence. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. We're on your side, even if it means we don't make a cent.If you choose an income-driven plan, you’ll be asked to provide income information on the application by granting access to your IRS tax information.You can opt out, but you’ll have to submit a copy of your most recent federal tax return directly to your loan servicer after you finish the consolidation application.

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So, for instance: If the average comes to 6.15%, your new interest rate will be 6.25%.

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