Private Graduate Loan Consolidation FAQs

Why should I consider GradLoans.com Private Consolidation Loan when there are so many other offerings out there?

GradLoans.com has designed a private consolidation loan to help you effectively manage your monthly payments following graduation. We believe that students need to realize the importance of building and maintaining a good credit history, and by providing the opportunity for lower monthly payments they can afford the other expenses associated with starting a career and life after graduate school.

Apply Online or call toll-free 877-328-1565

Is a co-signer required?

No, a co-signer is not required but it is highly recommended. Applying with a qualified co-signer will greatly increase your chance for approval, and could provide you with a lower interest rate on your loan. Applicants who do not meet the credit eligibility requirements on their own may apply with one. We also offer a co-signer release benefit - if you make 48 on-time payments we will release the co-signer from the debt obligation provided the borrower can meet the credit requirements at the time of the request to release the co-signer.

Which types of loans are eligible to be consolidated?

Any existing nationally-marketed private student loans.

What information will I need to complete the application form?

You will need to have the following information available for you and your co-signer (if applicable):

• Name, address and social security number
• Names, addresses and telephone numbers of two personal references
• Monthly Income and expense information
• Estimate Loan Amount for Loan Consolidation
• For Each of the loans to be consolidated:
• Loan Account Number
• Name and address of loan servicer (on your monthly billing statement)
• Outstanding loan balance/expected payoff amount

Apply Online or call toll-free 877-328-1565

How long will it take for my loan to be consolidated?

Generally speaking, you should expect the entire private loan consolidation process to be completed in less than 45 days. This is of course dependent upon your ability to provide the required documentation regarding your income, expenses and underlying private student loans.

How many years will I have to repay my loan?

The GradLoans.com loan has been designed with a repayment term of 30 years.

How can I find out how much I owe in current private student loans?

By reviewing your most recent monthly statement from the student loans servicer(s) who are currently handling your loan(s). In addition, your servicer is likely to provide on-line access to your account balances. Please check your monthly statements online.

How will I know when my consolidation loan has been approved and when will my existing loans be paid off?

Once all required documentation has been received, we will make a loan decision and, if approved, we will begin the process of paying off the loans you listed for consolidation. Once completed, we will send you a letter of confirmation.

Is there a minimum loan amount?

Yes, the minimum loan amount is $10,000.

Is there a maximum loan amount?

Yes, the maximum loan amount is $250,000 depending on program.

Does my school need to be involved?

No, school participation is not required.

If you are still in school, we would caution you to wait until after graduation or when your current deferment has ended. Of course, if you're in a position to make payments in advance of those two events, we would urge you to begin the process now to simplify repayment and pay down your student loans early.

Do I have to keep making payments on my existing loans while I'm consolidating?

Yes, we recommend that while in the process of applying for the consolidation loan that you continue making your on-time monthly payments. This will assure that your credit remains in good standing.

Apply Online or call toll-free 877-328-1565