Interest rates for consolidating federal student loans dating new jersey directory guide job

When you consolidate your loans, you have only one due date to remember as opposed to several, making it easier to manage your finances.

There are a few qualifications to meet before you can apply to consolidate student loans at Citizens Bank.

When you consolidate privately with the Education Refinance Loan from Citizens Bank, you can consolidate both federal and private student loans into a new loan with your choice of either a variable or fixed rate.

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There are no fees, no credit checks, and no pre-payment penalities on a federal student consolidation loan.

The interest rate for a federal consolidation loan will be a fixed rate, which is determined by the weighted average of the interest rates on the loan(s) being consolidated, rounded to the nearest higher one-eighth of one percent.

By consolidating your education loan(s), your interest rate will be fixed and determined by the weighted average of the interest rates on the loan(s) being consolidated, rounded to the nearest higher one-eighth of one percent.

You may determine your interest rate by using the Repayment Estimator on the click on the Repayment & Consolidation tab.

Using automatic payment ensures that on-time payments will be made; this option should be considered by every borrower entering loan repayment.

If you are interested in an automatic payment process, contact your consolidation loan servicer.

Student borrowers may consolidate, or refinance, their federal student loans, including Direct, Stafford, and Perkins loans, into a federal consolidation loan. There are two main reasons borrowers decide to consolidate their federal loans: a fixed interest rate and lower monthly payments.

Other reasons include the convenience of having just one loan with one monthly payment and preventing one from defaulting on one's loans.

Most of the current deferment and forbearance provisions of Direct student loans are retained after being consolidated.

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