When you refinance your student loans, you may be able to put more money back into your budget.call-us onApply Now
By consolidating federal and private student loans, you may be able to:
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Lowest listed APRs include a 0.25% rate reduction for automatic payments
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No loan application fees. No origination fees. No late fees.
Get a 0.25% interest rate reduction when you are enrolled in automatic payments during repayment.
Consolidate your federal and private student loans.
Apply from your computer, smartphone or other mobile device, or call us at 1-800-STUDENT anytime 24/7.
Choose from a fixed or variable interest rate.
We can verify your loan details with you and your current loan servicers at one time.
Easily sign your loan documents and accept your loan terms online.
A private consolidation loan is a private student loan that combines and refinances multiple education loans into one new loan with a new interest rate, repayment term and monthly payment amount. This could result in a lower interest rate and/or a lower monthly payment. If you are extending your repayment term, this could result in an increase in your total cost over the life of the loan.
To qualify, you must:
Subject to credit approval, you can consolidate up to the aggregate amount of your education loan debt. Maximum limits may apply. The minimum consolidation loan amount is $5,000.
You can choose to consolidate one, some or all of your eligible student loans. We recommend you compare your current loan terms against the consolidation loan terms. For example, you may not want to include loans with a lower interest rate than the consolidation loan. Find out if student loan consolidation is right for you.
Yes. The following student loans aren't eligible for consolidation:
You will have 30 days, from Approval Disclosure, to accept the loan terms and a three-day right-to-cancel period, following Final Disclosure, before the consolidation is complete. However, once your loan is disbursed, and we pay off your existing loans, the process cannot be reversed.
Yes, you can include a prior consolidation loan if the loans you consolidated were used solely to pay off qualified higher education expenses and they meet the minimum loan amount of $5,000.
Once you've received the Approval Disclosure and accepted the loan terms, no additional loan(s) can be added. If you need to add a loan, you can cancel your existing application and reapply with the additional loan(s).
Once you apply, it can take from 30 to 45 days to process. During that time, we complete the credit review process, you (and your cosigner, if applicable) will sign the loan documents and we will ask you to obtain payoff statements from your current loan servicers. If you prefer, we can schedule a call with you and your current loan servicer(s) to verify the loans you want to consolidate.
Once these steps are complete, we will notify you when your loan(s) are consolidated and provide your new minimum monthly payment amount and due date. Please continue making your monthly payments until we notify you that your consolidation loan has disbursed.
Students may have the option to apply with a creditworthy cosigner. By applying with a creditworthy cosigner, you may receive a lower interest rate.
Your interest rate will be based on your credit history, your choice of a fixed or variable interest rate, and your cosigner's credit history (if applicable).
Get a 0.25% interest rate reduction when you are enrolled in automatic payments during repayment. To enroll for automatic payments, complete the enrollment form online or call us at 1-800-STUDENT to request a copy of the enrollment form, complete it and mail it back to the address on the form.
Yes. You can choose to consolidate while you are still in school, during your grace period or after your grace period expires. If you choose to consolidate while you are still in school or during your grace period, you will lose any remaining grace period on the loans that you are consolidating, and you will begin making payments approximately 30-45 days after your loan is disbursed.
A repayment period is the period of time during which scheduled payments are required to be made to repay the principal balance and interest on a loan. Your repayment period can be 10 or 20 years, based on your creditworthiness. View APR Examples
Your first payment will be due approximately 30-45 days after your consolidation is complete and the loan is disbursed.
There is no pre-payment penalty. Making additional payments can help you lower the total cost of your loan.
If you go back to school and are enrolled at least half-time, you may be eligible for an in-school deferment. In addition, you can also defer payments while:
If you are experiencing financial difficulties and you are unable to make your student loan payments, we have options to help. To learn more and determine if you qualify, please call our Repayment Assistance Department at 1-800-STUDENT.