Is there any difference between consolidating and refinancing student loans?
Date: Mon, 07/10/2017 - 22:19
Is there any difference between consolidating and refinancing student loans?
When you are consolidating
When you are consolidating your student loans with a private lender, you are in fact refinancing the loans.
As Patricia said, student
As Patricia said, student loan refinancing is only available from private lenders. Most of the private lenders only refinance private student loans, not the federal student loans.
Normally, private student loans cannot be consolidated with federal student loans. Federal loan consolidation doesn’t lower your interest rate, but refinancing with a private lender can.
it is better to look for
it is better to look for federal loan consolidation instead of taking out a private loan to repay your federal student loans, as you can enjoy more benefits.
