Consolidating private law school loans
Even thinking about how you are going to pay off your student loan debt can be overwhelming.You are not alone, over 40 million former students have loan debt.Lend Key allows you to consolidate both your federal and private loans into one, allowing you to better manage your finances.They offer both a variable (as low as 2.74% APR) or a fixed (3.15% APR) rate.Through the Direct Consolidation Loan program, you can combine your loans (depending on the type) into one loan.This makes your payments smaller and easier to manage.Once you’ve decided that student loan refinancing is right for you, it’s time to make another tough decision: which servicer do you go through?
If you are consolidating loans with varying interest rates, the interest rate will always be in between.
Private student loans and federal student loans have separate consolidation procedures.
By separating and being aware of which kinds of loans you have, you will be able to identify what your consolidation options are.
Each lender’s policy is different, so be sure to explore your options before you pick the one that works the best for your situation.
Usually, the only qualification for a federal student loan consolidation program is that your loans are federal loans and not private (or have been consolidated previously by a private lender).