You may be contacted by private companies that offer to help you apply for a Direct Consolidation Loan, for a fee. There’s no need to pay anyone for assistance in getting a Direct Consolidation Loan. The fixed rate is the weighted average of the interest rates on the loans being consolidated, rounded up to the nearest one-eighth of one percent. The loans that were consolidated are paid off and no longer exist.
These loans are typically utilized to supplement the money that you have already borrowed from federal loans.
If you have a signature loan you may be eligible for zero fees or 0.50 percentage interest rate reduction by signing up for automatic payments.
You have various financial and educational benefits when choosing this type of loan such as low interest rates, repayment options that can be as low as $25 (While the borrower is IN SCHOOL) and you can borrow up to 100% of your education cost.
The Signature Student Loan is a school-certified loan that allows students to borrow up to the full cost of attendance less other financial aid received.
If your answer is “Yes”, you should continue reading this article to understand more about these loans: The Smart Option Student Loan is the only private student loan providing budget flexibility for graduating students.
Students who graduate and maintain their Sallie Mae loans in good standing can request to make 12 interest-only payments instead of full principal and interest payments after their separation period.
Examine Sallie Mae's student loan refinancing and consolidation options.
Since you are already a customer at Sallie Mae, you may be entitled to interest rate discounts on your refinancing or consolidation.
Loan consolidation can also give you access to additional loan repayment plans and forgiveness programs. Refer to the complete list of federal student loans eligible for consolidation in the application.