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The startup's first product was managing in-school student loans in 2009, and moved into student consolidation loans in 2011.
Our private student loan is actually a Sallie Mae "private student consolidation loan" that we stupidly rolled my husband's federal student loans, credit card debt, education expenses for my schooling into one huge loan..thinking that this would be a great idea.
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He ramped up CIT's existing home-lending activities and acquired the Education Lending Group, a student loan consolidation company, for $381 million in early 2005.
The Bush administration's proposal to move the federal student loan consolidation program from a fixed to a variable interest rate would place an additional burden and expense on students (news article, April 28).
Marketplace lenders like SoFi, Common Bond and Earnest began as student loan consolidation plays and have now raised billions in the transition into next-generation financial institutions.
For more information about student loan consolidation, or to learn more about student loans, visit Credible.
To lower your interest rates and monthly payments, graduates should look into student loan consolidation.
In particular, many borrowers do not know whether to choose between a federal or private student loan consolidation.
Wells Fargo student loan consolidation only offers 15- and 20-year loans, but there is no penalty if you pay off your student loan early.
If you Google 'help with private student loan consolidation,' the Internet is swarming with salliemaesucks.com and manvsdebt.com forums about how people need help and fast because they cannot afford the gripping amount that their student loans are.
With that in mind, here is a breakdown of the similarities and differences between federal and private student loan consolidation to help you take control of your student loans.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com