Finding private student loan consolidation lenders is becoming more difficult, since fewer private student loan lenders are willing to consolidate student loans. If you have federal student loans, and are considering consolidation as an option, you will want to visit and review The US Department of Education’s Federal Direct Loan Consolidation program.
You will NEVER want to consolidate your federal student loans and your private student loans into a private consolidation loan. Federal student loans must be consolidated into a federal consolidation loan for you to retain all of your federal student loan benefits.
If you are have private student loans, and feel like consolidation is the right option for you, there are still some private student loan consolidation lenders you can try. The following lenders are still making consolidation loans for private student loans (if you meet the requirements):
1. Chase Private Consolidation Loan
2. NextStudent Private Consolidation Loan
3. Student Loan Network Private Loan Consolidation
4. Wells Fargo Private Consolidation Loan
If private student loan consolidation is not an option for you, yet you are still struggling with your monthly student loan payments, try contacting your current lender to see if they may be able to help. Many private lenders are willing to work with their borrowers. The worst action to take if you are having problems making your monthly student loan payments is no action at all. Letting your student loans slip into default has serious consequences on your credit and financial future.
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