Consolidating fafsa loans
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Learn more"Term" refers to the length of the loan, typically in years.
In general, the shorter the term, the lower the interest rate and the higher the monthly payments.
Take time to study your consolidation options carefully before you apply, and talk to the holder of your loans for more information before you consolidate.
Please note: Borrowers with prior loans in the FFEL Loan Program will be able to switch to the Direct Loan program if they want to take advantage of the Public Service Loan Forgiveness Income Based Repayment (IBR) Plan.
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.Fixed-rate loans often have higher rates than the introductory rates on variable loans.However, borrowers have peace of mind knowing their monthly payments will always be the same amount.Student Loan Hero is not a lender or investment advisor.We are not involved in the loan approval or investment process, nor do we make credit or investment related decisions.