Getting the Lowest Student Loan Consolidation Rates
Lowering your interest rate and simplifying your payments are the primary goals when you’re consolidating student loans. Here at Student Loan Consolidation Info, we are looking to help you get the lowest student loan consolidation rate possible. Here are some tips to make that happen.
The best way to get lowest student loan consolidation rates is to:
- Have a good credit score and history,
- Be current on your current student loans,
- Negotiate with your lender,
- Know when the DE is the right choice.
The lowest student loan consolidation rate will come when you have a good credit score and history to work with. Lenders are more interested in you and will compete to give you the best deal in this case. Being current on your student loans is obviously a part of having good credit to work with.
When you talk to your lender, negotiate your student loan debt consolidation. What they offer may not be the best, so try to haggle a little. The worst they’ll do is say “no.” Often, they’ll concede to giving you the lowest student loan rates.
Finally, if your current interest rates are under about 9%, you probably don’t need a Department of Education loan guarantee. This will usually not get you the lowest student loan consolidation rates and often is a detriment. Instead, try to get a private loan that is not a DE-backed offer. Some lenders will not do this, but most are willing to give you a better deal if you can stand on your own feet when you are consolidating student loans.