Consolidating student loans get lower interest rate dating army soldier stories
Depending on what the terms are of your loans, you may be able to lower your interest rate, which would in turn enable you to both lower your monthly payment lower the amount of interest that you pay over the life of the loan.
Want to quickly and easily lower your interest rate?You will need your loan records and account statements.The form asks basic questions (name, social security number, date of birth, address, etc.); what loans you do and do not want to consolidate; and what repayment plan you will be using.The Direct Consolidation Loan program is the right choice if your goal is to simplify the process for repaying federal loans and keep your options open for the many repayment plans available for federal loans. If you’re using private lenders for student loan consolidation, there is a chance you could get a better interest rate and possibly lower monthly payments. That’s because federal loan rates are so low – fixed rates of 4.45% for undergraduates, 6% for graduates in 2017-2018 – that it’s difficult for private lenders to beat the rates and make a profit.Still, some companies, like So Fi and Lend Key, have found a way to offer students a competitive rate and a variety of repayment conditions.