Our social:

Tuesday, August 30, 2016

6 Best Banks to Refinance and Consolidate Student Loans in 2016

Image result for 6 Best Banks to Refinance and Consolidate Student Loans in 2016



 Finding the right bank to refinance or consolidate your student loans is confusing.
Fortunately, we’ve highlighted the six best banks and lenders to help you refinance and consolidate both private and federal student loans, based on your financial situation. With student loan consolidation, you may be able to refinance at a lower interest rate, decrease your monthly payment, or both!
When you apply, most banks and lenders will look at your credit score, annual income, savings, and college degree type (or certificate of enrollment if still in school). If you meet these requirements, you might be an excellent candidate for student loan refinancing and consolidation! If you don’t think you meet the requirements, don’t worry – as you can apply with a cosigner to increase your chances of getting approved for a better student loan.
Disclosure: Student Loan Hero is a free website to help student loan borrowers. We only evaluate lenders and do not issue student loans. This report was not chartered by or created on behalf of any lender listed below.

1. DRB – Darien Rowayton Bank

  • Refinancing and consolidation of private and federal student loans
  • Must be an alumni of a bachelors or graduate degree program (e.g. MBA, Law, post-residency Medical/Dental, Physician Assistant, Advanced Degree Nursing, Pharmacist, Engineering, PhD, etc.) who meet the underwriting criteria
  • DRB also offers parents of Bachelor degree holders the opportunity to refinance student loans they took out to finance their child’s education as long as their child has graduated and is working. Parents can refinance Parent PLUS loans in their own name or their child’s name.
  • 3.64% – 6.29% (with autopay) variable rates
  • 4.20% – 7.20% (with autopay) fixed rates
  • 5, 7, 10, 15, 20 year repayment terms
  • Maximum variable rates capped at 9% for 5-10 year terms. For greater than 10 year term, maximum rate cap is 10% APR
  • No origination fee or prepayment penalty
  • .25% Interest Rate Reduction with automatic payments via ACH
  • 2. SoFi
  • Refinancing and consolidation of private and federal student loans
  • Must have completed an eligible undergraduate or graduate degree program
  • Available for both undergraduate and graduate school student loans
  • 2.20% to 6.00% APR (with autopay) variable rates, capped at 8.95% to 9.95% APR
  • 3.50% APR to 7.74% APR (with autopay) fixed rates
  • 5, 7, 10, 15, 20 year repayment terms
  • No origination fees or prepayment penalties
  • Unemployment protection – loan payments are paused and they help find new job
  • Career support – complimentary coaching for SoFi members
  • Entrepreneur program – qualified applicants can receive loan deferrals and mentorship
  • 3. Earnest
  • Refinancing available for undergraduate or graduate student loans from both private and federal lenders
  • Rates start at 2.20% APR variable (with autopay) and 3.50% APR fixed (with autopay)
  • Radical flexibility to pick any monthly payment and term between 5 and 20 years – saving you more than standard rates and terms
  • No set credit score or income requirements – Earnest looks at thousands of data points to evaluate financial responsibility and deliver the lowest possible rate
  • Commitment-free 2 minute rate check
  • Earnest never passes you off to a third party – their on-site team is your customer service partner for the life of your loan
  • Ability to change your loan as your life and needs change – refinance your loan for free, switch between fixed and variable rates, change payment dates, even skip a payment once a year and make it up later
  • Unemployment protection to pause your monthly payments when in between jobs
  • No origination fees, application fees, or prepayment fees
  • Must have completed undergraduate or graduate degree or expected graduation within 6 months
  • Must be currently employed or with an employment offer starting within 6 months
  • Must be a U.S. Citizen or permanent resident

  • Refinancing and consolidation of federal and private student loans with an Education Refinance Loan® from Citizens Bank®1
  • Citizens Bank private student loan customers have saved an average of $1,764/yr2
  • Fixed rate student loan refinancing featuring an interest rate as low as 4.744APR to 7.99 APR (with autopay)4 for eligible candidates3
  • Variable interest rates range from 2.10 APR –7.894 APR (with autopay)4 and will fluctuate over the term of your loan with changes in the LIBOR rate3
  • 5, 10, 15 and 20 year repayment term options
  • Loyalty Discount: 0.25 percentage point interest rate reduction on a new Education Refinance Loan if you or your co-signer (if applicable) has a qualifying account in existence with us at the time of application4
  • Automatic Payment Discount: 0.25 percentage point interest rate reduction by authorizing our loan servicer to automatically deduct your payments each month from any bank account4
  • Co-signer Release: Co-signer may be released from loan responsibility after making 36 consecutive, on-time principal and interest payments5
  • No application, origination or disbursement fees
  • Minimum Loan to Refinance: $10,000

  • Refinancing and consolidation of private and federal student loans
  • Available for undergraduate, graduate, and Parent PLUS student loans
  • 2.14% – 5.94% APR variable rate refinancing (with autopay)
  • 3.50% – 7.74% APR fixed rate refinancing (with autopay)
  • 3.79% – 6.23% APR hybrid rate refinancing (with autopay)
  • 5, 7, 10, 15, and 20 Year Repayment Terms
  • 0.25% Interest Rate Reduction with automatic payments via ACH
  • Unemployment protection – loan payments are paused and they help eligible graduates find new jobs and also hire them for short-term consulting projects
  • Access to CommonBond Community – Borrowers are connected to events in their cities, networking opportunities, and lifestyle perks
  • Social good – for every fully funded degree through CommonBond, they fund the education of a student in need abroad for a year through Pencils of Promise
  • No application, origination or disbursement fees
6. LendKey

  • Higher chance of approval with our not-for-profit lenders
  • Check real refinancing rates in 2 minutes with 1 form and no impact on your credit score
  • No handoffs, you’ll be with our fully trained customer care team from your application to your final payment
  • Refinancing and consolidation of private and federal student loans
  • Available for both undergraduate and graduate school student loans
  • Fixed rates from 3.25% APR to 8.97% APR (with autopay)
  • Variable rates from 2.13% to 7.38% APR (with autopay)
  • 5, 10, 15 and 20 year repayment terms
  • 0.25% Interest Rate Reduction with automatic payments
  • Longest unemployment protection period in the market (18 months)
  • Cosigner release available after 12 on-time payments
  • Minimum balance to finance: $7,500
  • Minimum income of $24,000/year
  • No origination fees or prepayment penalties

0 comments:

Post a Comment

Hello Every One thanks For Visit My site You Can Suggest any Idea About site And Related Education Information Provide me Its Best Content For you am Include in this Site And feel free contact And email now I hope This site very help full you