Private Student Loan Consolidation

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Consolidating (refinancing) your private student loans provides the opportunity for significantly lower monthly payments by combining all of your private student loans into one.

In addition, private student loan consolidation actually improves your credit by paying off your existing private student loans and combining them into one new master loan. Refinancing your private student loan can also help to lower your interest rate.

Benefits of Private Student Loan Consolidation

  • Lower Monthly Payments: Most borrowers can reduce their monthly payment by extending the repayment term of their private student loan debt.
  • Reduced Interest Rates: Borrowers with improved credit may often lower their interest rate. In addition, some consolidation lenders offer rate reductions for automatic debit payments (ACH).
  • Repayment Term: Undergraduate borrowers may receive up to a 25 year repayment term which offers the lowest possible monthly payment, and graduate student borrowers may receive up to a 30 year repayment term*.

Apply With a Co-signer

While not required, we strongly encourage undergraduate students to apply with a creditworthy co-signer if they may have difficulty qualifying for a loan due to limited income and credit history. This may increase an applicant's chances of approval and of possibly obtaining a better interest rate.

Calculate your new consolidation payments!

If all this talk of lower monthly payments and one master loan has your attention, go ahead and use our private student loan repayment calculator to estimate where exactly those payments will fall.


* Your repayment term is determined by your consolidation lender based on criteria such as: loan size, credit rating and income.