Private Student Loan Consolidation
A private consolidation loan combines private loans into one loan allowing borrowers
to make one simple monthly payment rather than multiple payments. Consolidation
may also lower your monthly payment and consolidate loans that cannot be consolidated
into a federal consolidation loan.
You should never consider bundling your federal and private loans into a single
private consolidation loan. Federal loans can be consolidation through the federal
consolidation program which provides unique advantages and we discourage borrowers
from sacrificing these federal benefits by consolidation their federal loans into
a private consolidation loan.
Depending on the particular private consolidation loan, you may or may not be able
to consolidate every type of private student loan. In many cases, adding a qualified
cosigner could potentially lower monthly payments. And sometimes, a co-signer release