If a student has received a number of private loans to help finance their education, said student can (subject to credit approval) consolidate their private loans, as long as the collective amount of the loans they are looking to consolidate have a value between $7,500 and $150,000. Chase select private student loans represent supplemental resources for students who have exhausted other types of financial aid for college the loans are made available to undergraduates, graduate students, and those individuals studying in graduate-level medical programs.
I contacted student loan guru mark kantrowitz at finaidorg, who says just three lenders still offer consolidation: chase, student loan network, and wells fargo try those—and shop smart try those—and shop smart.
Many private lenders feature the ffelp consolidation loan in tandem with a private student consolidation loan chase offers only the federal consolidation loan select features of a federal consolidation loan are prepackaged by the feds: loans are based on a fixed interest rate, calculated by a “weighted average” of your loan interest rates.
The wells fargo private consolidation sm student loan is subject to completion of a loan application/consumer credit agreement, verification of application information, credit qualification, and a benefit to borrower determination. Discover, with an array of competitive financial products, offers student loan refinancing for both private and federal loans through their private consolidation loan product pros pros in-house loan servicing: when refinancing with discover, they service their loans in-house versus using a third-party servicer.
The wells fargo private consolidation sm loan allows you to consolidate multiple private student loans or refinance a single private student loan this can potentially lower your monthly payment by qualifying for a lower interest rate or extending the loan repayment term. 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. Use the debt consolidation calculator to help determine how much you may be able to save by consolidating your debt into a home equity line of credit enter information about your current loan payments, balances and interest rates to see your results.
Chase student loans was just one of the many companies that dissolved their student loan programs when the government was given permission to start lending directly to lenders luckily for students, there are still many private options left to turn to.
Private student loans cannot, in general, be consolidated with federal student loans the low interest rates on federal consolidation loans are not available to private education loans nevertheless, there are several options for refinancing private education loans.