Consolidating federal loans sallie mae
Whom do I contact if I have questions about consolidation?
Private education loans are not eligible for consolidation, but for some Direct Consolidation Loan repayment plans, the total amount of your education loan debt—including any private education loans—determines how long you have to repay your Direct Consolidation Loan.
It's important to pick a reputable lender that will not charge you any fees to refinance your loan.
In fact, the average borrower who refinances is able to save over ,000 over the life of their loan.Bear in mind, though, that this may result in paying more interest over time.Lenders have specific criteria you must meet in order to qualify for refinancing.Most want you to have a good credit score (680 or higher), but they may also look at your employment situation and debt-to-income ratio.The interest rate on your new private student loan will be based on your credit score.