Private Graduate Loan Consolidation
A private consolidation loan is a great way to significantly lower your monthly loan payments by combining all your private graduate loans into one manageable loan.
- Lower Monthly Payments: Most borrowers can reduce their monthly payment by extending the repayment term of their private student loan debt
- Conditional pre-approval decision within minutes online or by phone
Get The Lowest Rate Possible - Apply With A Co-Signer
Applying with a qualified co-signer can greatly increase your chances for approval. A co-signer with great credit could help you get a better interest rate.
Here's a quick chart showing how much you could save on your monthly payments:
|Loan Amount||Assumed Current Payment*||Initial Monthly Payment**||Monthly Savings||Annual Savings|
*Assuming a 15 year loan term, with an original rate of 6.8%
**Assuming extended term of 30 years at same rate of 6.8%
***Interest rate and the resulting monthly payment(s) contingent upon borrower and/or co-signer credit
Other Benefits of Private Graduate Loan Consolidation:
- Reduced Interest Rates: Borrowers with improved credit may often lower their interest rate. Existing loan holders will not reduce your interest rate if your credit has improved.
- Rate Reductions: Borrowers may apply on their own or with a credit-worthy co-signer. Borrower and Co-signers with superior credit will receive lower APR loans.
- Internship/Residency & Military Deferment: A 48 month deferment for medical/dental residents and a 36 month deferment for all active-duty military personnel is available through the Graduate Leverage Private Consolidation Loan Program.
- Up to 30 Year Repayment Term: Depending on the lender, borrowers may receive up to a 30 year repayment term that offers the lowest possible monthly payment.
- No Prepayment Penalties: All payments in excess of scheduled payments go directly to principal.
Apply with a co-signer
We always recommend applying for a private loan consolidation with a qualified co-signer - it will greatly increase your chance for approval, and could provide you with a lower interest rate on your loan.
Applying is Simple
College graduates with any existing, nationally-marketed, private student loan can be eligible for the Student Loan Consolidator Private Consolidation Loan.