Consolidating private student loans fixed interest rate

When comparing rates from different lenders, be sure to pay attention to additional key differences, such as fees, before making a final decision (Earnest has no fees, for what it’s worth).The next step is to submit an application, and provide any additional required verification, such as IDs or pay stubs.Once you’re approved, you are automatically approved for the total eligible student loan amount listed on your credit report.

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Like other forms of debt, you can refinance a student loan (both private student loans and federal student loans are eligible for refinancing).

With most lenders, you start with a rate estimate, which doesn’t require a hard credit inquiry.

In short, refinancing student loans generally does not hurt your credit.

When getting your initial rate estimate, all that’s required is a ’soft credit inquiry,’ which doesn’t affect your credit score at all.

#Product Line=Edfi|Brand=citizensbank|Product Set=trufit Parent Product Set|product Name=Tru Fit|rate Type=Fixed|repayment Type=Interest Only|loan Type=Undergraduate|term=10|based On=10,000|Product Attribute=loan Options::repayment Example::min::interest Only Payment#, depending on the interest rate during the 45 month in-school period and the 6 month grace period. Such changes will only apply to applications taken after the effective date of change.

See our Citizens Bank Student Loan page for important disclosure information.

That being said, you must be employed or possess a job offer to be eligible to refinance with Earnest.

The more your financial situation has improved since you took out the loans originally, the better your refinancing offer will be.

Lowest rate shown requires borrower to take advantage of available ACH and loyalty discount to achieve the 0.50 percentage point interest rate savings.

Other assumptions include a 21 month in-school period, 6 month grace period, a standard repayment account, and the student remains in school through the expected graduation date. Actual rates and payment information may vary based on applicable terms. Citizens Bank reserves the right to modify interest rates at any time without notice.

When you refinance student loans, you consolidate your existing federal and private education loans into a single loan.

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