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Similar to when you are being sold any product or service, be sure to read the fine print, understand what you are buying, and consult a licensed professional if you have any concerns.
A common misconception is what exactly student loan consolidation and student loan refinancing are, how they are different, and which might be the best choice for a borrower to alleviate some of his or her student loan burden. Loan consolidation means combining multiple loans into one single loan.
This is done mostly for convenience, to simplify the process and only make one monthly payment.
Variable-rate student loans have interest rates that can change during the repayment period.
Interest rates may increase or decrease at any time and typically do so based on changes to LIBOR.Student loan refinancing makes the most sense when a borrower has high interest rate loans.In these situations, borrowers with steady incomes and above average credit scores are frequently able to lower their rates and save significant amounts.The rates and terms listed on our website are estimates and are subject to change at any time.Please do your homework and let us know if you have any questions or concerns.If you meet these requirements, you might be an excellent candidate for student loan refinancing and consolidation!