Consolidating personal school loans


29-Sep-2020 17:29

And while student debt may seem like a fact of life for new college graduates, it actually follows a lot of borrowers for decades after school.

It’s estimated that 1.8 million borrowers over the age of 62 are still paying off student loans.

It’s a leader in the field; in 2012, it was the first company to start refinancing federal and private student loans together.

Why it’s worth a look: They’re currently offering fixed interest rates of 3.49% to 7.94%, and a variable interest rate of 2.27% to 7.84% (that includes an auto-pay discount of 0.25%).

Visit discover.com/student-loans/consolidation for more information, including up-to-date interest rates and APRs.

Credible is a website where you find lenders who are willing to refinance your student loans.

For variable interest rate loans, the 3-Month LIBOR is 2.50% as of July 1, 2019.

Get a variable interest rate from 4.62% APR to 7.62% APR (3-Month LIBOR 2.12% to 3-Month LIBOR 5.12%) for either a 10-year or 20-year repayment term.This may cause the monthly payments to increase, the number of payments to increase or both.