Private Student Loans still have to meet federal requirements like any other loan offered from a bank or other financial lender. However, within those rules, there can be a wide variety in what is offered between agencies. In order to get control of what can be four to eight years of loans depending on the degrees sought, many graduates will pursue Consolidation for their Private Student Loans. Below is a list of some of the larger private student loan consolidation companies along with some terms of their programs. While many of these lenders will also consolidate your federal loans, we must advise you that this is not something you want to do unless you absolutely must.  Many federal loans offer benefits such as student loan forgiveness, and income based payments,  that are not offered with private loans.  By consolidating your federal loans with your private, you will lost many of these benefits.

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

Darien Rowayton Bank

  • Rates: Variable – 1.92% to 3.98% APR | Fixed – 3.50% to 6.25% APR
  • Repayment Plans: Five, Ten, Fifteen and Twenty terms
  • Origination Fees: None
  • Unemployment Protection: No
  • Benefits: 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

Wells Fargo

  • Rates: Variable – 3.75% to 8.75% APR | Fixed – 7.24% to 12.29% APR
  • Repayment Plans: Five, Ten, Fifteen and Twenty year terms
  • Origination Fees: None
  • Loan Types: Service is available for Private and Federal Loans
  • Unemployment Protection: No
  • Basic Requirements: Have completed and eligible undergraduate or graduate degree, medium credit score
  • Benefits: 0.25% interest rate reduction with automatic deductions, 0.25% interest rate reduction with an already established Wells Fargo account or Wells Fargo student loan

CuGrad Student Loan Consolidation

  • Rates: Variable – 3.97% to 7.47% APR
  • Repayment Plans: Fifteen year term
  • Origination Fees: None
  • Loan Types: Service is available for Private and Federal Loans
  • Unemployment Protection: No
  • Basic Requirements: Have completed an eligible undergraduate or graduate degree, medium credit score
  • Benefits: Cosigners can be released from responsibility after 12 consecutive payments, 0.25% interest rate reduction with ACH automatic payments

Education Success Loans

  • Rates: Combined – One year fixed 5.24% APR then variable, Five year fixed 6.24% APR then variable, Ten year fixed 8.24% APR then variable
  • Repayment Plans: 25 year term
  • Origination Fees: None
  • Unemployment Protection: No
  • Basic Requirements: Have completed an undergraduate or graduate degree from a Title IV eligible school, graduated 30 months prior to applying for consolidation, meet internal credit criteria, be a US citizen or permanent resident
  • Benefits: 0.25% interest rate reduction with automatic deductions

Charter One Bank

  • Rates: Variable – One month LIBOR average + 2.66% APR | Fixed – Starting at 5.24% APR
  • Repayment Plans: Fifteen and Twenty year terms
  • Origination Fees: None
  • Loan Types: Service is available for Private and Federal Loans
  • Unemployment Protection: No
  • Basic Requirements: Have completed an eligible undergraduate or graduate degree, medium credit score
  • Benefits: 0.25% interest rate reduction if an applicant already has an account with Charter One, 0.25% Interest Rate reduction with automatic deduction from any bank account, Cosigners can be released from responsibility after 36 consecutive payments

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