Consoldating student loans

Some lenders will permit the refinancing of those Parent PLUS loans from the parent's name into the name of the child/graduate.

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Similar to when you are being sold any product or service, be sure to read the fine print, understand what you are buying, and consult a licensed professional if you have any concerns.

Often, the introductory rate on a variable-rate loan is lower than that of a fixed rate loan, though it has the potential to increase later.

Learn more A fixed-rate student loan guarantees a single interest rate that does not change over the lifetime of the loan.

If you meet these requirements, you might be an excellent candidate for student loan refinancing and consolidation!

If you don’t think you meet the requirements, don’t worry – as you can apply with a cosigner to increase your chances of getting approved for a better student loan.Borrowers typically have the option to make interest-only payments during this period in order to prevent accruing interest from increasing their balance.Many parents take out "Parent PLUS" loans to pay for their children to attend college.With student loan consolidation, you may be able to refinance at a lower interest rate, decrease your monthly payment, or both!When you apply, most banks and lenders will look at your credit score, annual income, savings, and college degree type (or certificate of enrollment if still in school).Learn more"Term" refers to the length of the loan, typically in years.

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