Student loan consolidation companies

There are many student loan consolidation companies, but comparing and selecting them along with their features can be a hard task to do. Here is the list of some top companies which offers the consolidation of student loans at best.

  1.    College Ave student loan

It is one of the top refinancing and consolidation companies in the market of student loan consolidation companies. It was founded in 2015. Its application process is very easy and simple, with no additional fee. The process takes merely 3 minutes, unlike other application processes which take around 30 minutes to get complete. It is a very user-friendly application of lenders. There are two types of interest rates offered by College Ave: variable and fixed. The variable rates come in the range of 4.13% to 7.13% and fixed rates begin from 4.65% to 7.50%.

These interest rates have a discount of 0.25% for making re-payment through automatic debit mode.

College Ave makes available loan facility with various interest rates. There are many options available beyond the fixed rate and variable rates. It is the only company which provides the facility of an interest-only payment option for 24 hours.

  1.    Discover student loans

Students opt for student loans to support their studies. But, once they get graduated and face the responsibility to pay back the loans, they realize that repayment is much higher than they expected. To decrease their repayment value, they go for loan refinance and consolidation. Discover Student Loan provides many types of loans like undergraduate loans, residency loans, health profession loans, bar exam loans and MBA loans. The wide variety of student loans availability with the Discover Student Loans makes them a unique player among other student loan consolidation companies.

Discover Student Loans offer both fixed and variable interest rates for consolidation loans. The variable loan ranges from 3.87% to 7.12% and fixed rate begin from 5.24% to 8.24%. The time period of repayment ranges between 10 to 20 years.

  1.    Earnest

It was founded in 2013; it is the most unique in student loan consolidation companies. It has expanded to more than 160 employees in the last 4 years. It offers both students refinance loan and new personal loans. It offers a variable rate which starts from 2.65% and changes according to LIBOR. Also, the fixed rate remains constant throughout the life of the loan and can get as low as 3.20%. All these students get an additional 0.25% discount on the rate by making re-payment through automatic pay.

Moreover, the borrowers can repay the loan by choosing the repayment tenure between 5 to 20 years.

  1.    Laurel Road

It is well known for its range of tight interest rate and low rates among the consolidation companies. Laurel Road offers various loans under fixed and variable interest rates. It allows the customer to refinance and consolidate both private and federal loans into a single new loan.

It offers variable interest rate which ranges from 3.76% to 6.42% and fixed interest rate stands from 4.20% to 7.20%. Laurel doesn’t charge any origination fees. It also looks at the credit score and good income before giving loans.