Should you consolidate your private student loans right now?
I have a few private student loans right now and I know that federal interest rates are low. Would this be a good time to consolidate some private student loans and get a better deal than if I were to consolidate another time?
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@madhurimannava,
This is a great question! You are able to consolidate/refinance your private loan into another private loan, if it makes financial sense for you. The overall factors when considering consolidating/refinancing any loan are: favorable rates, terms, and saving money. Be sure to review and compare rates to determine whether now is a good time for you as some private lenders have made adjustments due to COVID-19. By using this calculator, you can determine how your loan rate compares to competitors to see if consolidation/refinancing is the best option for you at this time. Does this help?
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