In contrast to FAFSA programs, the Private Students Loans cannot be consolidated, because of they do not have low interests rates as the government loans; even though, you will find many options to complete your repayments.
Besides, they do not compete in price, so that, the benefit is that they obtain a payment each month; however, because of the interest rate is done according to the credit score, you will be able to get a lower rate interest.
This means, they are private consolidation programs; and the interest is given by lender, not the government, with additional fees though.
If you have any other government loans, would be better for you, not to mix with your private education loans, mostly, because with a government loan you will have more benefits and lower interest rates.
Always remember, every time you get a private consolidation loan, ask for type of interest rate (fixed or variable), the fees and the prepayment penalties.
Some benefits, according to the Lender:
No fees to pay.
A lower financing cost.
Choose your repayment period (years).
Low guarantee fee according to your past credit history.
Get a repayment term, up to 30 years, based on the loan amount.
No prepayment penalties.
Pay full payments of principal and interest, or a reduced payment of interest with some payments of principal and interest.
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