Since federal loans offer different
benefits than private student loans, you should always explore them first.
Not exact matches
Due to the
benefits that federal
student loans come with and the lower
than average interest rates, many experts recommend consolidating federal and
private student loans separately.
According to Sofi, «Alumni earn a compelling double bottom line return,
students receive a lower
loan rate
than their
private or federal options, and both sides
benefit from the connections formed.»
Thanks to lower interest rates and more repayment
benefits than private loans, you can better manage your
student loan debt going forward.
While federal
loans are often easier to obtain and can have better terms
than private student loans, it is still necessary to know all of the
benefits as well as challenges that may accompany them.
Alumni earn a compelling double bottom line return,
students receive a lower
loan rate
than their
private or federal options, and both sides
benefit from the connections formed.»
A major
benefit to consolidating rather
than refinancing is that you will keep the borrower protections that federal
student loans offer — but that many
private student loans do not.
One
benefit of Raise
Loans is that they are available in more states
than other recently launched
private student loan options - Alabama, Arizona, Colorado, Florida, Georgia, Indiana, Maryland, Massachusetts, Michigan, Missouri, New Hampshire, New Jersey, New York, North Carolina, Ohio, South Carolina, or Tennessee and cosigners in any state except Wisconsin.
Private student loans may have lower interest rates
than federal
student loans, but they do not always offer
benefits like income - based repayment, forbearance options, or forgiveness for eligible borrowers.
Due to the
benefits that federal
student loans come with and the lower
than average interest rates, many experts recommend consolidating federal and
private student loans separately.