Sallie mae rates consolidating student loans

Before considering a consolidated loan, it is important to evaluate your outstanding student debt.This can be done with the help of an accountant, or with a representative from your bank or lending institution.And while you’re at it, check out So Fi’s new Student Loan Debt Navigator tool to assess your student loan repayment options. With prevailing interest rates at historic lows, some private lenders offer rates that are significantly better than a high-rate federal loan.This is particularly true for grad school borrowers who use unsubsidized Direct loans and Graduate PLUS loans to finance their education.Loans, both Federal and private, make it possible for thousands of students every year to achieve their college goals.But all too often those loans become a financial burden to graduating college students, and can leave them in very real economic distress.Actual loan pricing is based on creditworthiness factors evaluated during the application process.

Defaulting on students loans is never an option, and all students should pursue any alternative that will help them avoid default.

offer benefits and protections that do not transfer to private lenders.

This is often the reason that people cite when they say you shouldn’t combine federal and private loans.

Now that you know it’s an option and you understand how it works, you can better assess whether it’s right for you.

It is nearly impossible to complete a college education without creating some level of student debt.

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