Does consolidating your student loans help your credit
You might not be able to score a deal for the entire amount, but if you can get a fixed-rate personal loan to pay off some of the variable-rate student loan debt, that will offer you more stability.
Ask Suze a question or get another answer Please note: This is general information and is not intended to be legal advice.
If the requirements above sound good, we think that you are a great applicant for student loan refinancing and consolidation.
Each lender has its own specific underwriting criteria, so you may have a higher chance of approval at certain lenders.
For the record, and for those who don't know the difference, a credit rating and a credit score are 2 different things.
Today, the answer to that question is probably yes!
7 out of 10 graduates are now graduating with some form of student loan debt.
I contacted student loan guru Mark Kantrowitz at Fin Aid.org, who says just three lenders still offer consolidation: Chase, Student Loan Network, and Wells Fargo. You should also know that there are no fixed rates on consolidated private loans; your interest rate will probably be tied to a benchmark like the prime rate, so when that rises, so will the rate on your loan.
Finally, if you have a solid job and a solid credit score, think about looking into a personal loan at a bank or credit union.