Student Loan Consolidation Companies – 4 Of The Best To Use

August 26, 2011

Student Loan Consolidation Companies

There are many great student loan consolidation companies that you can you when choosing to consolidate your loans. Grouping your payments into one lump payment, which is what consoliation is, can provide you many benefits when it comes to paying off your loan, like a lower monthly payment, a chance for a lower interest rate if by chance your credit has improved since the last time you applied for the loans you have now, as well as just in general. Below will be 4 excellent programs to use when looking for student loan consolidation companies as wel as the details and benefits that come with them.

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Student Loan Consolidation – 4 Great Programs

Although this list isn’t limited to all the student loan consolidation companies that are out there, they have proved to stand out in the crowd because of their excellent benefits and overall experience. Here are 4 great student loan consolidation companies that you can use.

  1. Next Student – This program boasts the benefit of providing their clients with the chance to reduce their  monthly payments by 50 percent of the original total, and offers consolidation services on both fedeal and private loans. When it comes to federal loan consolidation, a credit check isn’t required so it doesn’t factor into whether you are accepted or not, and when it comes to application and orgination fees, there are none to speak of, as well as no repayment penalities. As for the private loans consolidation this student loan consolidation companies program requires that either you or a cosigner passes a credit check. The interest and other fees have been shown to vary, but are are very competitive. Another great part about this student laon consolidation comapnies option is that during your conslutation, you will be provided with a financial consultant that will assist you during the entire process.
  2. Loan Approval Direct – This is the next option when it comes to using great student loan consolidation companies. This program offers its eligible applicants benefits like providing you with up to 60 percent less on monthly payments, an interest rete as low as 3 percent, which is incredibly low, allows you to consolidate loans sums that total up to 125,000 dollars as well as doesn’t require a credit check.
  3. Student Lending Works – Out of all the student loan consolidation companies listed on this page, this is the only one that is a non profit organization. Because of this fact, you will find the lowest interest rates around as they aren’t charging you interest just to make money off you. This program offers many advantages that include, rewards which equate to discounts on your interst rates like for example, making your payments on time, and as said above, very low interest rates.

Student Loan Consolidation Companies – Conclusion

Although these student loan consolidation companies as well as consolidation in general can provide many benefits to it’s users, it can also have adverse effects that can even cost you more in the long run. The best thing you can do now before committing to a consolidation company is to shop around and remember when shopping around to compare the following aspects; the terms of the loan, interest fees as well as what the repayment fees are. By doing this you can pick out the best option for you when it comes to student loan consolidation companies, if they provide you with value and a benefit for consolidating, or if not then you will know to not use them at all.

Category: Student Loan Consolidation

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