Consolidating private student loans bad credit

Posted by / 27-Nov-2020 22:53

Consolidating private student loans bad credit

(A 20-year repayment term is available when the consolidation loan amount is ,000 or more) Variable interest rates are based on an Index, plus a margin.

The APR for a variable rate loan may increase during the life of the loan if the index increases. Rates are current as of 07/24/2019 and subject to change without notice.

If a consolidation loan borrower dies or becomes totally and permanently disabled, and that individual was a student borrower on loan(s) included in the consolidation loan, the amount forgiven will correspond to the outstanding balance of any underlying loan(s) made to that individual.

You will receive a billing statement in the mail after your loans have been successfully consolidated and loan proceeds have been disbursed to your prior loan servicers.

Consolidating your federal and/or private student loans with Wells Fargo may help you take control of your finances by creating a single private loan with a new interest rate, one monthly payment, and a new repayment term of your choice.

If financial hardship makes it difficult to remain current on the loan payments, we encourage you to talk to us about your payment options.Discounts reduce the amount of interest you pay over the life of the loan.The automatic payment discount may not change your monthly payment amount but may reduce the number of payments or reduce the amount of your final payment. Variable interest rates are based on market conditions, so if market rates go up or down, so may your interest rate and monthly payments.The billing statement will include the due date for your first payment.Learn about repayment Here are two ways to estimate your rate and payments: Get your estimated rate – See your personalized rate and payment estimates with a soft-credit inquiry and no impact to your credit score.

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You cannot include any other debt that is not a qualified education loan (for example, credit card or line of credit), even if it was used to pay education expenses.