Consolidating private loans companies

Speak to a Citizens Bank Education Finance Specialist to decide if private student loan consolidation is right for you, or to learn more about how to consolidate your student loans.We can explain more about the flexible terms, variety of repayment options and competitive interest rates of the Education Finance Loan.For example, you may need to identify the types of federal loans you have and their repayment statuses.Review the consolidation eligibility criteria on the federal student loan website to learn more.

If you took out student loans each year of college, it's likely that some rates are higher than others.Student loan consolidation allows borrowers to combine multiple loans into a single, new loan with a new interest rate, repayment options and terms.It's important to keep in mind that there are distinct federal and private options for consolidating student loans.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.However, if you have a steady income, have made payments on student loan and other debts, or want to switch from a fixed to variable rate, consolidation may be beneficial for you.

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