Consolidating direct plus loans

So Fi’s lifetime savings methodology for student loan refinancing assumes: 1) members make all payments on time; 2) members make monthly payments for the full duration of their loan; and 3) members take advantage of Auto Pay, which enables them to lower the APR of their loan by 0.25%. Federal loans do carry some special benefits, for example, public service forgiveness and economic hardship programs, that may not be accessible to you after you refinance.So Fi’s average lifetime savings methodology for student loan refinancing excludes refinancings in which: 1) members elect So Fi loans with longer maturity than their existing student loans; 2) the term length of the member’s original student loan(s) is greater is than 30 years; 3) the member did not provide correct or complete information regarding his or her outstanding balance, loan type, APR, or current monthly payment. Check out this blog post that provide more information: When to Consolidate Federal and Private Loans by Refinancing.And if you do qualify, but you’re at the high end of the spectrum, your slightly lowered payments may come at a through the refinancing process won’t make sense for every borrower, but it provides great benefits for some.Now that you know it’s an option and you understand how it works, you can better assess whether it’s right for you. We’ve got you covered with our Student Loan Smarts blog series.Our expert tips and hacks will help you save money, pay off loans sooner and stress less about student loan debt.

Once you read through, you'll know how to refinance and consolidate student loans.

Today, we’re able to offer significant savings and flexibility to US citizens or permanent residents who have graduated from a selection of Title IV accredited university or graduate programs, are employed, has a sufficient income from other sources, or hold a job offer with a start date within 90 days, have a responsible financial history, and a strong monthly cash flow.

A Direct Consolidation Loan is a government program that allows you to combine multiple federal education loans into a single loan.

Read the other posts in the series here—and get all the info you need to make intelligent decisions about your student loans.

And while you’re at it, check out So Fi’s new Student Loan Debt Navigator tool to assess your student loan repayment options. With prevailing interest rates at historic lows, some private lenders offer rates that are significantly better than a high-rate federal loan.

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