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Value of Private Student Loan Consolidation
Lower Monthly Payments by as Much as 45% the First Year*!
We offer a reduced interest rate in the first year of the loan which allows you time to start your career and establish yourself while your loan accrues interest at a lower rate. Additionally, we allow you to make interest-only payments for the first two years of repayment. By paying the interest, you are keeping up with the accrued value of the loan, but further lessening your monthly payment burden.
On the first anniversary of your loan closing, the interest rate on your loan changes to LIBOR plus 6.00% to 6.50%, depending on your credit history or that of your co-signer, if applicable.
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First Year Monthly Payment Example*
Before Consolidation
| Value of Loans to Consolidate | $30,000.00 | $50,000.00 | $75,000.00 | $100,000.00 |
|---|---|---|---|---|
| Assumed Origination Fee | $0.00 | $0.00 | $0.00 | $0.00 |
| Assumed Interest Rate1 | 9.98% | 9.98% | 9.98% | 9.98% |
|
Estimated P+I
pre-consolidation |
$289.11 | $481.85 | $722.77 | $963.70 |
| Loan Term | 20 YEARS | 20 YEARS | 20 YEARS | 20 YEARS |
Year One of Repayment with Private Consolidation
| Assumed Origination Fee2 | $0.00 | $0.00 | $0.00 | $0.00 |
|---|---|---|---|---|
|
Year 1 Interest Rate
(1-Month LIBOR + 1.00%)3 |
6.33% | 6.33% | 6.33% | 6.33% |
|
Year 1 Payment
(Interest-Only)4 |
$158.22 | $263.69 | $395.54 | $527.38 |
| $ Mo. Savings Year 1 | $130.89 | $218.16 | $327.23 | $436.32 |
| % Mo. Savings Year 1 | 45.27% | 45.28% | 45.27% | 45.28% |
| Loan Term | 30 YEARS | 30 YEARS | 30 YEARS | 30 YEARS |
Applying is Simple!
College graduates with any existing, nationally-marketed, private student loan can be eligible for the Student Loan Consolidator Private Consolidation Loan. There are no application fees or other out-of-pocket expenses to apply. Lower your monthly payment amount by as much as 45% in the first year!
1 Assumes underlying loans are accruing interest at 1-month's LIBOR (5.33%) plus an assumed margin of 4.65% for a coupon rate of 9.98% for a 20 year term
2 Assumes that the Origination Fee in this example is 0%. The origination fees for the Student Loan Consolidator Private Consolidation Loan vary from 0% to 5.0% of the total loan amount depending on the creditworthiness of the borrower or co-signer, if any.
3 The Interest rate for the first year of private consolidation is 1-Month LIBOR + 1. 0% or 6.33%
4 Borrower can make Interest-only payments in years 1 and two of repayment.
