Paying off student loans is not fun for anyone. But there are some ways you can make the repayment process easier and more affordable. If student loans are weighing you down, you may have heard about refinancing or consolidating your loans and are wondering if that is a good option for you. 在本文中, we’ll explain these two student loan repayment options, and give you resources to better understand if these strategies are right for you.

STUDENT LOAN CONSOLIDATION

什么是合并?

When you combine multiple loans into a single loan payment each month. Once the process is complete, you no longer owe the original loans. This new loan will come with a new interest rate, a new payment plan, and new terms and conditions.

好处是什么??

• Simplicity: Consolidating your student loans allows you to make one monthly payment instead of multiple payments
• Lower 支付: Consolidation can potentially lower your total monthly payment
• Better 利率: The interest rate is fixed and can be lower than your original rate

我应该考虑什么?

• Loss of 好处: Depending on the type of loan, you may lose certain benefits if you consolidate
• Higher 利率: Depending on your current interest rates and loan amounts, you can actually end up paying higher interest rates
• Longer Repayment Period: A consolidated loan can lengthen the duration of your payment plan and you may end up paying more over time

合并选项

• Federal: This strategy combines multiple federal loans into one new federal loan with different repayment options. The interest rate becomes a weighted average of existing loans.
• Private: This strategy combines one or more private loans into a single new private loan. The interest rate can vary by lender.

学生贷款再融资

什么是再融资?

学生 loan refinancing is the process of obtaining a new loan at a new interest rate. Typically, you can refinance both your federal and private student loans. This process involves paying off your old loans and getting a new one with different repayment terms and interest rates.

联邦再融资

It’s possible to refinance federal student loans, but only with a private lender. 当你再融资贷款时, a private lender pays off your existing loans and issues you a new private loan. Once you refinance government loans, you can’t return them to the federal student loan program, and you may lose out on certain government benefits.

私人融资

You should refinance private student loans if you qualify for a better interest rate. Refinance lenders don’t typically charge upfront fees, so a lower rate can allow you to pay less each month, 节省利息或两者兼而有之.

ELEMENTS STUDENT LOAN RESOURCES

学生 Lending Appointments

Meet with a student lending specialist to explore options and identify differences between federal and private student loans, get assistance completing your student loan application, and discuss options for undergraduate degrees and graduate students seeking a business degree.

要素再融资

No reason to make multiple loan payments when you can consolidate private and federal loans, 包括PLUS贷款.

• 再融资高达12.5万美元
• 可变利率
• Refinance your private or federal student loans with a 15-year repayment term

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This information is provided for informational purposes only. It does not constitute legal, tax or financial advice. Consult with your tax, legal or financial adviser before taking any action.