Private Student Loan ConsolidationPrivate Student Loan Consolidation

Private student loans are still required to meet federal requirements, just like any other loan offered from a bank or other financial lender. However, these limitations still offer a wide variety of options with different agencies. Many graduates will pursue consolidation fortheir private loans, especially those with four to eight years’ worth of schooling.
A comprehensive list of some of the largest private student loan consolidation companies, along with some terms and conditions of their programs, are listed below. While many of these lenders will also consolidate your federal loans, we advise against doing this unless you have absolutely no other choice. Many federal loans offer benefits such as student loan forgiveness and income-based payments that are simply not available with private loan agencies. By consolidating your federal loans with your private, these benefits will be lost forever.

Common Bond

Rates: Variable – 1.92% to 5.67% APR with Autopay | Fixed – 3.89% to 7.24% APR with Autopay
Repayment Plans: Five, Ten and Fifteen year terms
Origination Fees: None
Loan Types: Service is available for Private and Federal Loans
Unemployment Protection: Yes
Basic Requirements: Be an alumni of an Engineering, Law, MBA or Medical (post-residency) program within the Common Bond school network, medium credit score
Benefits: Full access to the Common Bond Community which provides employment help and networking opportunities, 0.25% interest rate reduction with ACH automatic payments

Social Finance

Rates: Variable – 1.92% to 5.42% APR with Autopay | Fixed – 3.50% to 7.49% APR
Repayment Plans: Five, Ten and Fifteen year terms
Origination Fees: None
Loan Types: Service is available for Private and Federal Loans
Unemployment Protection: Yes
Basic Requirements: Have completed an eligible undergraduate or graduate degree, medium credit score
Benefits: Career Coaching and Loan Deferrals are available for applicants who qualify for SoFi’s Entrepreneur Program
Receive $100 off your refinance by following this link when signing up