Consolidating private loans fixed rate
To request technical assistance while you are signed in and completing the online, select the “Contact Us” tab in the top menu bar of Student From there, you can either complete and submit the feedback form or select “Additional Information” and contact the Student Loan Support Center at the phone number provided.Loan consolidation can also give you access to additional loan repayment plans and forgiveness programs. If you want to lower your monthly payment amount but are concerned about the impact of loan consolidation, you might want to consider deferment or forbearance as options for short-term payment relief, or consider switching to an income-driven repayment plan for longer-term payment relief.
If you submitted your application online, your consolidation servicer’s contact information was provided at the end of the online process.
Most issuers charge a balance transfer fee of around 3%, and some also charge an annual fee.
Before you choose a card, calculate whether the interest you save over time will wipe out the cost of the fee.
A Direct Consolidation Loan allows you to consolidate (combine) multiple federal education loans into one loan. Similarly, if you have Federal Perkins Loans and you are employed in an occupation that would qualify you for Perkins Loan cancellation benefits, you should not include your Perkins Loans when you consolidate.
The result is a single monthly payment instead of multiple payments. Leaving out your Direct Loans or Perkins Loans will preserve the benefits on those loans.