Consolidating Student Loans for Lower Interest Rates
Because higher education is so expensive, frequently a student will need multiple loans to fund his or her education. After graduation, when repayment begins, the loans can be a hefty burden for a person just entering the job market.
Student Loan Consolidation
If the interest rates have lowered since the loans were opened, it is possible that you can consolidate at this lower rate and save a considerable amount over the duration of the loan. This is referred to as student loan consolidation and it groups all of the loans into one, low monthly payment.
How to Qualify
If you have good credit, you will be able to qualify for a low student loan rate. Short term loans tend to have higher rates than long term loans. It is important to shop around for the best rates. California Banking Rates can help you find the best rates on student loan consolidation in California.