Refinancing and Consolidating Student Loans in the USA


Best banks to consolidate and refinance student loans – Refinancing student loan basically offers students who find it hard to handle paying off multiple debts the option of combining both your federal loan and a private student loan.

To have positive outcome such as lowering the interest rates, having to pay a single debt and reducing the amount of time needed to pay the loan.

Consolidate student loans is merging multiple federal loans into a single loan thereby having only a single loan to pay with decreased interest rates and also have much longer time to pay back your loan. Unlike refinancing, consolidation does not help you save money.

However much these two might sound beneficial to the students, it is imperative to know that not every student qualifies for loan refinancing and its acquisition automatically denies you the eligibility certain federal protection such as student-loan-forgiveness.

Best banks to consolidate and refinance student loans
Here are some banking institutions that offer these and other services to students with their interest rates.
Citizens bank
i. Federal, private, and personal loan
ii. Loan refinancing and consolidation
iii. Fixed and variable interest rates of 3.35%+ and 2.79%+respectively
College Ave
i. Private, federal and Parent loan
ii. Loan refinancing and consolidation
iii. Fixed and variable interest rates of 4.65%+ and Variable: 4.13%+ respectively
Earnest
i. Private, federal and Parent loan
ii. Loan refinancing and consolidation
iii. Variable Rates starting at 2.2% and Fixed Rates starting at 3.5%
SoFI
i. Private, federal and Parent loan
ii. Loan refinancing and consolidation
iii. Variable Rates starting at 2.2% and Fixed Rates starting at 3.5%
Commonbond
i. Federal, private, and Parent loan
ii. Loan refinancing and consolidation
iii. Fixed rates from 3.50% and Variable starting at 2.23%

Benefits of consolidation and refinancing a loan
saving some cash
having a single loan to pay
having favorable interest rates