Best bank for consolidating student loans
After all scholarships and grants have been exhausted, the next option is student loans.
Nowadays, 7 out of 10 college graduates have student debt and the average has over ,000!
As you can see, So Fi is a great company to look into if you want to consolidate and refinance your student loans.
Let’s take a quick look at the most important factors to keep in mind:· Variable interest rate between 2.565% and 6.490% APR· Fixed interest rate between 3.375% and 6.740% APR· 5, 7, 10, 15, and 20-year pay off terms· Unemployment protection· Online application process· Consolidate both federal and private loans Citizens Bank offers multiple rates and repayment terms to ensure that there is an option that meets your needs.
Consolidating your loans will simplify your finances and likely save you money long-term.
However, you will give up some protections that come with government loans.
Alliant is a not-for-profit credit union, so we’re not interested in taking your money with excessive interest rates.
These companies are all reputable private or federal companies that accept online applications.
So Fi allows you to consolidate both your private and federal student loans and the company helps members save roughly ,000 or so over the course of their loan.
In addition, So Fi also offers unemployment protection, which will come in handy when you lose your job.
If your job is lost, So Fi will suspend your payments temporarily to help you get back on your feet and start earning an income once again.
Lastly, So Fi has a customer service team that is dedicated to helping you from the moment you voice an interest in the company.