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Consolidating direct plus loans

With an average balance of ,000, student debt is a big part of the average college graduate's life.At Lend EDU, we help borrowers compare the top student loan companies in one place.

Once you read through, you'll know how to refinance and consolidate student loans.

So Fi’s lifetime savings methodology for student loan refinancing assumes: 1) members make all payments on time; 2) members make monthly payments for the full duration of their loan; and 3) members take advantage of Auto Pay, which enables them to lower the APR of their loan by 0.25%. Federal loans do carry some special benefits, for example, public service forgiveness and economic hardship programs, that may not be accessible to you after you refinance.

So Fi’s average lifetime savings methodology for student loan refinancing excludes refinancings in which: 1) members elect So Fi loans with longer maturity than their existing student loans; 2) the term length of the member’s original student loan(s) is greater is than 30 years; 3) the member did not provide correct or complete information regarding his or her outstanding balance, loan type, APR, or current monthly payment. Check out this blog post that provide more information: When to Consolidate Federal and Private Loans by Refinancing.

​Before you start an application, most lenders require a minimum FICO credit score of 660, 40 percent maximum monthly debt-to-income, and ,000 in yearly gross income.

If you meet those requirements, you're likely a great applicant for student loan refinancing and consolidation.

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