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Loans that are not eligible for consolidation include state or private loans that are not federally guaranteed.
Although all of these different loans may be consolidated, you must have at least one outstanding FFEL or Direct Loan to obtain a Direct Consolidation Loan.
You will have a lot of important financial decisions to make after getting a job, one of which will be paying down your student loan debt.
If you took out multiple student loans in undergraduate or graduate school, they may all have different balances and interest rates.
When you consolidate through the federal government program, you can only consolidate federal loans into a new loan with a fixed interest rate, which is determined by averaging your current rates.
When you consolidate privately with the Education Refinance Loan from Citizens Bank, you can consolidate both federal and private student loans into a new loan with your choice of either a variable or fixed rate.
This report was not chartered by or created on behalf of any lender listed below.
Our team at Student Loan Hero works hard to find and recommend products and services that we believe are of high quality and will make a positive impact in your life.
Finding the right bank to refinance or consolidate your student loans is confusing.
Fortunately, we’ve highlighted the six best banks and lenders to help you refinance and consolidate both private and federal student loans, based on your financial situation.
You can consolidate all, just some, or even just one of your student loans.