Financial advice consolidating student loans
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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.
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Similar to when you are being sold any product or service, be sure to read the fine print, understand what you are buying, and consult a licensed professional if you have any concerns.
Borrowers typically have the option to make interest-only payments during this period in order to prevent accruing interest from increasing their balance.
Many parents take out "Parent PLUS" loans to pay for their children to attend college.
Loans currently in default are generally not eligible for refinancing.
This is the lowest credit score a lender will consider when determining borrower eligibility.