Start Consolidating private federal student loans together

Consolidating private federal student loans together

As of February 2015, the post now contains new information about the three lenders that were originally listed here (Discover, Wells Fargo and Sallie Mae), along with details about other big private lenders.

If you’re struggling to repay private loans, please be sure to read that section of the article, as it may have the biggest positive impact for you.

Many of us know this by now, but it’s worth repeating.

Federal student loans are well-regulated and have structured programs to help borrowers.

It’s easy to find all of your federal student loan information (via and the interest rates and terms have historically been reasonable.

Even when consumers do struggle or fall behind, there are numerous resources available, and these resources are guaranteed.

Private student loans are a bit more of a “crapshoot.” Maybe you got lucky and picked a lender who tends to be more forgiving.

Unfortunately, Navient keeps information about private loan repayment close to its chest.

In other words, options aren’t described in detail on its website or in any public forum.

First, we will cover options that lenders offer, and then we will highlight some other resources.

Sallie Mae handed off most of its older private loans to Navient after its 2014 split into two arms, but it still services loans, while also offering new student lending products.

Like with many repayment programs, this can lead to higher payments later and a more expensive total loan amount, but it helps consumers get on their feet after graduation.