Consolidating federal loans with private lender

Federal student loan consolidation is a free, government-sponsored program that is only available to those with federal student loans.By law, lenders cannot charge any application fees or other charges with these loans.Here's what you need to know before deciding to consolidate student loans.Loan consolidation is when a borrower takes out a new loan to pay off several smaller student loans.These loans do not qualify for federal best student loan debt consolidation.

The company aims to revolutionize lending with a "nontraditional underwriting" process that takes more factors than a simple credit score.

Instead of making multiple payments to multiple lenders, the borrower only has to pay off the new consolidation loan, says Michelle Pezzulli, vice president of operations for Credit Union Student Choice, a student lending service provider in Washington, D.

C."That new loan will have its own interest rate; it will have its own repayment terms; it will have its own terms and conditions," she says.

They often use direct mail marketing, telemarketing, television, radio, and online advertising to promote their products.

Paying for your education is a serious long-term financial obligation; that’s why comparing the costs of different ways of financing your education is so important.

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