A way to consolidate virtually all private, non-federal education borrowing into one simple bill and one monthly payment. Consolidating your

Notice: We recommend that you consolidate all your federal student loans first and separately, then apply for a private student loan consolidation.

Federal student loan consolidation combines all of your loans into one new loan reflecting a positive payment history, helping improve your credit score. Private consolidation interest rates are credit-based. By consolidating your federal student loans first and improving your credit score, you could get a better interest rate.

Why consolidate private student loans?

• Combine all private student loan debt into one loan
• Reduce your monthly loan payments
• Co-signer release after 48 months
• Interest rate reductions for on-time and automatic payments
• No pre-payment penalties

Private Student Loan Consolidation Overview

Anyone with outstanding non-federal education-related expenses is eligible to apply for a Private Consolidation Loan. Borrowers for these loans must be either U.S. citizens or permanent residents.

• Minimum: greater than $10,000
• Maximum: $250,000

How long do I have to repay the loan?

• Consolidation loans that exceed $40,000 have longer repayment periods—up to 25 years.
• For loans less than $40,000, the repayment period is 20 years.

What's the interest rate?

• The interest rate for a Private Consolidation Loan is the Prime Rate, adjusted monthly, plus a margin depending on your credit history.
• Prime Rate (as of 4/2007): 8.25%
• The margin will initially be between 0.00% and 3.50%, but may be adjusted based upon changes in the Margin Adjustment Index.

Can I utilize a co-signer?

• Yes. Creditworthy co-signers will assist in securing the maximum loan amount with the best possible rates and terms. There is a co-signer release feature after 48 months.

What kind of debt can be consolidated?

Private Consolidation Loans can be used to consolidate all education-related debt, including all private loans used for education-related expenses as well as any federal student loans.