Unfortunately, we are unable to show you a comparison of federal consolidation loan offers at this time. Over the past year the student loan market has seen unprecedented changes. The changes made to the structure of the student loan programs that are guaranteed by the federal government (but that are actually issued by banks and private lenders) have forced many lenders to discontinue offering incentives or benefits to consumers and in many areas, to discontinue offering new student loans altogether. Federal consolidation loans have been especially hard hit. In general, these loans can be unprofitable for individual banks to issue under the new regulations. As a result, we have no lender offers available for comparison at this time.Consolidation of private student loans is a relatively new option, and many lenders are still fine-tuning offerings. Make sure to do your homework before consolidating your private student loans - be aware of prepayment penalties and monthly payment rates that start out attractively low but increase over time.Borrower benefits, or loan discounts, can save you money on your loan. Review the example below to see how borrower benefits can change the pricing on a loan. Common borrower benefits include:
Rate reductions
Waiver of fees
Principal reductions
Cash rebates
Waiver of final payments
There are some benefits that you get just for taking a particular loan, while others you must earn. Lenders can require you to follow certain rules in order to qualify, such as using a bank account to automatically pay (debit) you monthly payments and/or making all of your loan payments on time
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