If you own a home, using the equity you have built up may be one of the most cost-effective ways to lower your borrowing costs.In many cases, home equity loans and lines of credit can offer you a lower interest rate as compared to other types of loans while providing you with access to credit for unexpected expenses or home improvement projects. You may be looking for ways to refinance your student loans at a lower interest rate, but don’t know where to turn.We have created the most complete list of lenders currently willing to refinance student loan debt. Don’t worry about the impact on your credit score of applying to multiple lenders: so long as you complete all of your applications within 14 days, it will only count as one inquiry on your credit score. Ask CFPB includes links or references to third-party resources or content.
[Back to top] Applying for consolidation takes most borrowers less than 30 minutes, according to the Federal Student Aid website.
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Instead, you should look at options to avoid a default on student loan debt.
This is particularly important if you have Federal loans.
You can see the full list of lenders below, but we recommend you start here, and check rates from the top 4 national lenders offering the lowest interest rates.
These 4 lenders also allow you to check your rate without impacting your score (using a soft credit pull), and offer the best rates of 2017: If you are in financial difficulty and can’t afford your monthly payments, a refinance is not the solution.
There may be other resources that also serve your needs.
The CFPB does not endorse the third-party or guarantee the accuracy of this third-party information.
As part of the process, you’ll need to provide details about your existing federal student loans, and choose a federal loan servicer and repayment plan for your new consolidation loan.
You have to complete the application in a single session, so do your research before you start. You can consolidate all your federal loans or just some of them.