Q: I am a college graduate with private student loan debt. The company I have my private student loans through are no longer dealing with private consolidation loans, and many other student loan lenders I have called tell me the same thing. Is anyone out there taking on private student consolidation loans anymore?
A: Many private lenders and banks are no longer consolidating private student loans, because it’s just not as profitable for them as it once was. There are some lenders out there however, still consolidating private student loans for those borrowers who qualify. The companies still consolidating private student loans are:
1. Well’s Fargo
2. NextStudent
3. Chase
4. Student Loan Network
You can find contact information for these banks and lenders in our Private Student Loan Lender Directory. The order in which these companies are listed is not an indication of any “ranking” factor, you must do your research on each lender to find what consolidation loan is best for you. To learn more about student loan consolidation, view The Pros and Cons of Student Loan Consolidation. As always with private student loan consolidation, never consolidate your federal student loans into a private consolidation loan, you will forfeit all of your federal student loan options by doing this.
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