Consolidating private, alternative loans
If you have more than one private, alternative loan with two or
more lenders you may want to consider refinancing these loans into a
private consolidation loan. The benefits may include a lower monthly
payment, making one monthly payment, no prepayment penalty, and an
extended repayment period. The interest rate of the consolidation
loan may be higher than the rates of the original loans so be
careful in assessing how you may benefit from consolidating your
private loans. If you need assistance with this please feel free to
contact our loan counselor.
If you are considering a private consolidation loan, first check
with each of your current lenders to see if they have a private
consolidation loan. If they do not, review the options available
through the following lenders:
* The Loan to Learn Consolidation Loan through Student Loan Xpress:
call 866-311-4097 (open seven days a week), or apply on-line at
www.xpressprivateloan.com ;
* The CFS Private Consolidation Program through Collegiate Funding
Services: call 866-930-2710 or apply on-line at www.cfsloans.com ;
* The Key Education Consolidation Loan through Key Bank: call AES
Graduate Services at 800-446-8210 or apply on-line at: www.key.com/debtmanagement
.
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