2023 2024 EduVark > Education Discussion > General Discussion


  #2  
February 5th, 2016, 10:55 AM
Super Moderator
 
Join Date: Mar 2012
Re: Best Student Loan Provider

As per your demand here I am providing you list of the Best Companies to Refinance and Consolidate Student Loans in US

Alliant Credit Union
Offering: Student loan consolidation and refinancing for private loans only
Minimum loan amount: $10K
Maximum loan amount: $75K (undergraduate) and $100K (graduate)
Rates: Variable rates only, starting at 6.00% APR
Terms: up to 25 years
Eligibility:

-Original loans cannot be from a for-profit institution, community college, or trade school
-Minimum income of $40K and must have worked for current employer for 2 years
-Must be member of Alliant to apply, which requires membership in specific groups
-No application fee

Citizens Bank
Offering: Student loan consolidation and refinancing for federal and private student loans
Minimum loan amount: $10K
Maximum loan amount: $90K (undergraduate), $130K (graduate), and $170K (professional degree)
Rates: Fixed rates between 4.74% – 8.90% APR and variable rates starting at 2.33% -6.97% APR (with .25% auto-pay discount)
Terms: 5, 10, and 20-year term
Eligibility:

-Must be in repayment to qualify and have made 3 full on-time payments (or 12 if you do not have a BA degree from an accredited school)
-Minimum household income of $24K (for borrower or co-signer) and strong credit score

Benefits:
-25% rate deduction if borrower or co-signer has account with Citizen’s Bank
-Co-signer release option after 36 consecutive on-time payments
-No prepayment penalty, origination fee, or application fee

Commonbond
Offering: Student loan consolidation and refinancing for both federal and private loans
Maximum loan amount: $220K
Rates: Fixed rates of 3.74%-6.49% APR, variable rates of 1.94%- 4.93% APR, and hybrid rates of 4.14-5.64% APR for the first 5 years (with .25% auto-pay discount)
Terms: 5, 10, 15, and 20-year loan term
Eligibility:

-Must have a degree from a qualifying graduate school to qualify

Benefits:

-Deferment options and forbearance available for economic hardship
-No prepayment penalty or origination fees

CordiaGrad
Offering: Student loan consolidation and refinancing for federal and private loans, including Parent PLUS loans
Minimum loan amount: $20K
Maximum loan amount: $350K
Rates: Fixed rates of 3.95%-6.25% APR and variable rates of 2.75%-4.25% APR (with auto-pay discount)
Terms: 5, 8, and 12-year loan terms
Eligibility:

-Must be 23 years old, have worked at least 2 years, and have strong credit history
-Minimum income of $42K (or $25K with co-signer, who must have income of $50K)

Benefits:

-Rate discount of .5% if you open a CordiaGrad checking account and auto-pay

Darien Rowayton Bank
Offering: Student loan consolidation and refinancing for federal and private loans, including Parent PLUS loans
Minimum loan amount: $5K
Rates: Fixed rates of 3.50%-6.25% APR and variable rates of 1.90%-4.50% APR (with .25% auto-pay discount)
Terms: 5, 10, 15, and 20-year term options
Eligibility:

-Must be working professional with BA or grad degree

Benefits:

-Forbearance available for short-term economic hardship
-No prepayment penalty or origination fee

Earnest
Offering: Student loan consolidation and refinancing for federal and private loans
Rates: Fixed rates of 3.75%-7.50% and Variable rates of 2.15%-6.00%.
Terms: 5-20-year term options
Eligibility:

-Must be 18, be employed or have an offer letter, either have already graduated or will graduate in 6 months
-Live in an eligible state
-Original loans must be from an accredited institution

Benefits:

-No prepayment penalty, origination fee, or application fee
-Can switch between fixed and variable rates for no charge
-Offers bi-weekly payment cycle
-Forbearance, unemployment protection
-Deferment for up to 3 years if the borrower goes back to school

EdvestinU
Offering: Student loan consolidation and refinancing for private loans only
Rates: Fixed rates between 4.40% – 10.99% APR and variable rates between 3.59% – 7.89% APR
Minimum loan amount: $7500
Maximum loan amount: $125K (unless loan was funded by the New Hampshire Higher Education Loan Corp)
Terms: Standard and graduated loan terms of 5-25 years
Eligibility:

-Must have income of $30K for loans up to $100K and income of $50K for loans over $100K
-Original loans must be from an accredited, degree-granting school that has not gone into default

Benefits:

-Rate discount of .5% for auto-pay
-Forbearance for economic hardship
-Co-signer release option after 24 months of consecutive on-time payments
-No prepayment penalty, origination fee, deferment fee, or application fee

First Republic
Offering: Student loan consolidation and refinancing for federal and private loans
Minimum loan amount: $60K
Maximum loan amount: $200K
Rates: Fixed rates only
Eligibility:

-Must have First Republic ATM Rebate Checking Account with auto-pay for the loan (which requires a $500 minimum deposit)
-Must have worked in your current industry for 24 months
-Must apply in-person

Benefits:

-No prepayment penalty, origination fee, or annual fee

iHelp
Offering: Student loan consolidation and refinancing for federal and private loans, including Parent PLUS loans
Minimum loan amount: $25K
Maximum loan amount: Maximum of $100K (undergrad) and $150K (grad)
Rates: Fixed rates only, 6.22% – 7.99% APR for co-signed loans and 7.21% – 9.04% APR with a co-signer
Terms and Eligibility:

-Graduated, 24-month interest only, and standard principal and interest repayment plans available
-Must have attended an eligible school.
-Must have two years positive credit history and income of $24K for past two years

Benefits:

-Co-signer release option after 24 months of consecutive on-time payments
-Up to 24 months of forbearance for economic hardship and up to 24 months of partial payments
-2% fee at time of disbursement
-No origination fee or repayment fee

LendKey
Offering: Student loan consolidation and refinancing for federal and private loans
Minimum loan amount: $7,500
Maximum loan amount: Maximum of $125K (undergrad) and $175K (grad)
Rates: Variable rates of 1.90%-8.08%.
Terms: 5, 10, and 15-year loan terms
Benefits:

-Offer interest-only repayment for first 4 years
-Co-signer release option after 12-36 consecutive on-time payments
-No origination fee
-Loans funded by community lenders like credit unions and community banks

Link Capital
Offering: Student loan refinancing and consolidation offered to medical school graduates in or out of residency
Rates: Fixed rates of 4.25%-7.10% APR and Variable Rates of 2.65%-4.65% APR.
Minimum loan amount: $15K
Maximum loan amount: Maximum of $450K
Terms: Multiple loan term products available
Benefits:

-Refinance up to $450,000
-Payments are eligible for deferment during residency
-Offers 3-month grace period deferment and 0.25% auto-debit discount

Navy Federal Credit Union
Offering: Student loan consolidation and refinancing for private loans only
Minimum loan amount: $7,500
Maximum loan amount: Maximum of $125K (undergrad) and $175K (grad)
Rates: Variable rates starting at 3.53% APR
Terms: 15 year loans
Benefits: Co-signer release option after 12 consecutive on-time payments
Eligibility:

-Must be a member of Navy Federal Credit Union (requires affiliation with Armed Forces, DoD, or National Guard)
-Loans serviced by LendKey

NelNet U-fi
Offering: Student loan consolidation and refinancing for federal and private loans
Minimum loan amount: of $5K
Maximum loan amounts: $125K (undergrad), $150K (grad), $170K (MBA, Law), or $225K (health professionals)
Rates: Fixed rates from 4.37% – 9.06% APR and variable rates from 3.30%-6.94% APR
Terms: 5, 10, 15, 20, and 25-years
Eligibility:

-Must have graduated and have income of at least $24K (or a co-signer with income of $24K)

Benefits:

-Cash reward of 1.5% after first 12 months of on-time payments
-Co-signer release option after 24 consecutive on-time payments
-No prepayment penalty fees

Pave
Offering: Offers personal loans to help pay off existing student loan debt
Minimum loan amount: $3K
Maximum loan amount: $25K
Rates: Starting at 6% APR
Terms: 2-3 years
Eligibility:

-Must have credit score of 660 or higher and must have income, a job offer, or be planning to enroll in a course
-Loans only available in select states
-No co-signers

Benefits:

-Prides itself on tailor-made loans and transparency

RISLA
Offering: Student loan consolidation and refinancing for private/non-federal and PLUS loans
Rates: Fixed rates from 4.24%-5.74% APR (with co-signer) and 5.49%-6.99% APR (without co-signer)
Terms: 5, 10, and 15-years
Eligibility:

-Only refinances current Rhode Island residents or eligible schools within the state of Rhode Island

Benefits:

-Rate discount of .25% for auto-pay
-No prepayment penalty, but there is an origination fee

SoFi
Offering: Student loan consolidation and refinancing for federal and private loans, including Parent PLUS loans
Minimum loan amount: $10K
Maximum loan amount: No maximum
Rates: Fixed rates from 3.50%-7.24% APR and variable rates from 1.90%-5.19%
APR
Terms: 5, 10, 15, and 20-year loan terms
Eligibility:

-Must be employed or hold job offer to start work within 90 days
-Must hold degree from accredited school
-Not available in Nevada

Benefits:

-Forbearance and unemployment protection for up to 12 months
-Offers career assistance like interview coaching, resume review, and negotiating tactics
-No prepayment penalty or origination fee

Upstart
Offering: Platform that provides personal loans for any purpose including student loan consolidation and refinancing
Minimum loan amount: $3K
Maximum loan amount: $35K
Rates: APR starting at 5.7%
Eligibility:

-Minimum FICO score of 640 and proof of income required
-No co-signers

Benefits:

-No prepayment penalty, but there is origination fee of 1-6%
-Disburses loan amount one day after application in approved

Wells Fargo

Offering: student loan consolidation and refinancing for private loans only with Wells Fargo Private Consolidation Loan
Minimum loan amount: $5K
Maximum loan amount: $120K
Terms:15 and 20 years
Rates: Fixed rates from 6.74% (with discounts) – 11.79% (without discounts) and variable rates from 3.49% (with discounts) – 8.49% (without discounts)
Benefits:

-Interest rate discount of .25% for auto-pay, discount of .25% with previous Wells Fargo student loan, and .25% discount with Wells Fargo checking account, discount of .50% with Wells Fargo PMA package
-Co-signer release option after 24 consecutive on-time payments
-Up to 2 months of forbearance
-No prepayment penalty or origination fee


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