Consolidating student loans get lower interest rate

12 Aug

The cosigner doesn’t have to be a relative; he or she can be any adult who meets the eligibility requirements.

Most borrowers will need a cosigner for this loan to meet credit, employment, and debt-to-income requirements.

@5% INTEREST Now as you can see, BILL keeping track of these loans might get complicated— especially if you’re making payments to different loan servicers.

When you're choosing the term of a loan, consider the total amount of interest and fees you’ll pay.Calculate how to potentially pay less interest on your student loan: Student Loan Interest Calculator Calculate the monthly payments on your private student loans: Student Loan Repayment Calculator If you’re a borrower with little or no credit history, or you have limited income, a cosigner may help you to qualify for this loan and potentially receive a lower interest rate.A cosigner is someone who shares responsibility with the borrower for repaying the loan.As with the Stafford Loans, there are both Direct and FFEL consolidation programs.To a college grad swamped with multiple student loans that have come due, loan consolidation is an enticing option.