Consolidating private loans without a cosigner
You should also keep in mind that even though the interest rate would not go beyond 8.25 percent, it is still higher than the fixed rate you can expect with Perkins or Stafford loans.Additionally, loan consolidation is suitable for those who can hardly keep up with their monthly payments that are based on a 10-year repayment term.When you consolidate your loans, you can extend the term to at least 20 years and reduce your monthly payments.Wells Fargo private student loans are subject to credit qualification, completion of a loan application/consumer credit agreement, verification of application information, and if applicable self-certification form, school certification of loan amount, and student’s enrollment at a Wells Fargo-participating school.
Loan consolidation is the process of combining several student loans into a single loan from one lender.
Your paperwork will be prepared and submitted for you, after your approval. The Student Loan Sherpa Alex, your question is somewhat complicated as there are a number of factors to consider, but it is a great question. While both may be eligible for consolidation, it is important to think of these two types independent of each other when considering consolidation. Meanwhile, the provider negotiates with creditors for a lower settlement on the outstanding sums you owe.
Consolidating private loans without a cosigner comments