Consolidating student loans interest
If you choose to apply with a creditworthy cosigner, you may receive a lower interest rate.If you choose to consolidate loans that currently have a cosigner, your cosigner will no longer be responsible for the loans you include in your new consolidation loan.If you need to add a loan, you can cancel your existing application and reapply with the additional loan(s).
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You will have 30 days, from Approval Disclosure, to accept the loan terms and a three-day right-to-cancel period, following Final Disclosure, before the consolidation is complete.
When you consolidate your student loans, you may be able to lower your monthly payment if you qualify for a lower interest rate and/or extend your repayment term.
If your repayment term is extended, it will take you longer to pay back your loan and you will increase your total loan cost.
We recommend you compare your current loan terms against the consolidation loan terms.