Consolidating student loans through bank

Posted by / 06-Jan-2015 15:49

If you’re comfortable assuming a little more risk in your payment amount, a variable rate loan does have the potential to offer more savings.

LEARN MORE With Lend Key’s student loan consolidation and refinancing, you can combine your federal and private student loans into one convenient payment with a lower interest rate.

This page breaks down what you need to know about consolidating and refinancing your federal and private student loans together.Our fast and easy student loan refinancing calculator lets you plug in your remaining balance and existing monthly payments so you can quickly figure out whether refinancing your student loans can improve your finances.Depending on how long you’ve been out of school, your annual income and credit history is likely to have improved.This may be a good option if you need a lower payment now, but expect to make more money in the future.Be aware that your payments will go towards interest only—not principal—in the beginning of the graduated repayment plan.

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OUR GUIDE Student Loan Refinancing: Variable vs Fixed Rate Whether you choose a fixed or variable rate, it’s always important to remember to pick a loan that is right for you and your particular financial situation.