Once you’ve decided that student loan refinancing is right for you, it’s time to make another tough decision: which servicer do you go through?There are a lot of different companies that specialize in student loan refinancing, so how do you know which one works best for your loans?
If you have private student loans, the basic qualifications for refinancing are: Applying for the Federal Student Loan Consolidation program can be done electronically or through a paper application process.
If your loans are federal You most likely qualify for a government program to consolidate these loans.
The Federal Direct Consolidation Loan program will allow you to have only one bill each month.
Private student loans and federal student loans have separate consolidation procedures.
By separating and being aware of which kinds of loans you have, you will be able to identify what your consolidation options are.