i Help partners with thousands of community banks nationwide and, when you refinance your loans with them, helps bring your dollars back to the local community.With i Help, borrowers can support smaller, local banks, while also taking advantage of the help and support that i Help can offer.Student loan refinancing: Refinancing is when a student loan lender buys out your existing loans and gives you a single new loan with a potentially lower interest rate.So if you feel like your interest rate is too high, refinancing could help.With College Ave, borrowers can reduce the total cost of their existing student loans, current monthly payment, or both by refinancing or consolidating existing federal, private, and Parent PLUS loans.In order to qualify to refinance their loans with College Ave, borrowers must: If you think you may not qualify to refinance with College Ave on your own, consider adding a creditworthy co-signer.
While a lower interest rate is good news, your new loan may not come with all the borrower benefits associated with government loans.
Each refinancing lender determines the rate they’ll offer a borrower on a case-by-case basis, so if you want to take advantage of the lowest interest rate available, it’s best to apply to many different lenders.
For borrowers juggling multiple loan payments, federal student loan consolidation can help them lower their monthly payments, by packaging several debts into a single loan.
Student loan consolidation is often dismissed by borrowers because it can be confusing to understand the process of consolidating student loans.
This section will cover the ins and outs of federal student loan consolidation, including the consolidation application process, and the differences between federal student loan consolidation and student loan refinancing.
In August 2016 Relia Max, a platform and service provider for student loans, introduced Connext, its private student loan solution, which aims to help students find lenders to refinance their student loans or issue them new undergraduate or graduate student loans.