Brazos Brazos offers student loan refinancing to Texas residents. Should I refinance my student loans with fixed or variable interest rates? How do I consolidate or refinance my student loans? How much can I save by refinancing my student loans?With a wide variety of loan terms available, a Brazos Refinance Loan can help you meet your specific financial goals, whether you want to reduce your monthly payment or lower the total interest cost of repaying your loan. Student loan consolidation: Consolidation is the process of combining your government loans so that you can make a single monthly payment.If you have federal student loans and a) have too many different payments to keep track off or b) would like to qualify for different repayment plans like income-driven repayment or Public Service Loan Forgiveness, consolidation might be a good idea!Consolidating your federal loans will give you the opportunity to consolidate multiple loans into one (lower) monthly payment, and also let you choose a new repayment term and repayment plan.Remember though, refinancing your federal loans could mean giving up your certain borrower benefits like deferment and forbearance, loan forgiveness, and income-driven repayment plans.Learn more about whether refinancing is right for you.Fixed interest rates don’t change for the life of your loan, so you’ll always know how much you’re expected to pay.
Private student loans usually have variable interest rates, which can change depending on economic conditions.
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.
We recommend the lenders above because we thoroughly evaluated them. Can I consolidate private and federal loans together? You can also extend the term of your loan, at the same interest rate.
However, our team also researched other institutions and found some good alternatives for people that want to consider all options before they begin the process of refinancing or consolidating student loans. If you’re concerned about lowering your monthly loan payments, consolidation could be a good option for you.