What are Private Student Consolidation Loans?
These are alternative loans targeted at families who need educational funds in excess of the federal loans limit.
What associated charges are there when applying for a Private Student Consolidation Loan?
There are no charges.
What interest rates do Private Student Consolidation Loans offer?
They are subject to monthly variations and are pegged on the Prime Rate, issued first day of each month in financial journals. They are also subject to additional variation not exceeding 4.75%.
How long does it take to apply for a Private Student Consolidation loan?
These applications are completed within two months.
Can I pay off a Private Student Consolidation Loan early?
The answer is yes. There are no penalties when your student loan repayment is settled early.
What federal loans can be consolidated?
- Grad PLUS
- Stafford (Subsidized)
- Stafford (Unsubsidized)
When can a federal student loan be consolidated?
- Deferment or Forbearance
- Certain periods of delinquency
What factors determine the interets rate of a federal loan?
The type of loan and also when it was issued are the main determinants.