Consolidating defaulted private loan Sexy community chatting
Some are better than others, so make sure to look at the varying terms of each one — staying away from charges or origination fees and checking the maximum interest rate so you won’t get burned down the road.
The difference is you’ll need to apply through a private lender.
Private lenders require borrowers to pass a credit check to get the best rates.
That means if your score isn’t superhigh, you could wind up paying more if you consolidate.
Consolidation provides grads with the ability to combine their student loans into one megaloan, but it comes with drawbacks.
Along with gaining a new degree, many graduates will also leave campus with new student loan payments they’ll have to fit into their post-graduate budgets.
But borrower protections and repayment options on private consolidation loans can vary wildly from lender to lender.