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Who is consolidating private student loans

Federal student loan consolidation is a fixed-rate refinancing program that combines all of your existing federal student loans into one new loan.

Learn more about how student loan consolidation works in this step-by-step tutorial.Today, graduates are leaving campus holding a diploma in one hand and an average of ,000 in debt in the other.In America, student debt is the second largest form of consumer debt.Unfortunately, our nation’s education system, politicians, and students haven’t figured out a solution.In short, when you refinance your student loans, your new lender will pay off your old loans and issue you a new one.Your new loan typically has a lower interest rate, saving you money, or a lower monthly payment, making repayment more manageable.​We’ve created this guide to help borrowers better understand the emerging student loan refinancing and consolidation industry.By now you should know the basics behind student loan consolidation and refinancing.Now, we would like to present unbiased descriptions of the 11 major student loan consolidation companies.Please note, from here on out, we consider "consolidation" and "refinancing" the same thing.All of these companies have been vetted by The Student Loan Report team for product quality, security, and customer experience.

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