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Consolidating your bills good idea

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So Fi aims to help undergraduate and graduate borrowers lower their monthly payments and obtain lower interest rates.The company offers an interest rate discount of 25 basis points (0.25%) if you sign up for auto-pay.

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Consolidation was previously available to borrowers while they were still in school. Congress also eliminated joint consolidation for spouses, effective July 1, 2006.As you weigh the pros and cons, keep in mind that timing is critical.With just a few exceptions, you get only one chance to consolidate with the government loan programs.This means, for example, that a Perkins Loan on its own cannot be consolidated into a Direct Loan.You may consolidate with Direct Loans during grace periods, once you have entered repayment, or during periods of deferment or forbearance.We put together this guide to help you get information on all of the top student loan refinance lenders without having to jump around multiple websites.

After you are done, you will know how to refinance and consolidate student loans. Compare the Best Student Loan Refinance Rates Instantly view loan options from $5,000 to $500,000 using our student loan refinance comparison tool.

Our favorite, So Fi, aka Social Finance, has quickly positioned itself as the top student debt refinance lender on the market.

So Fi was founded by a group of Stanford business students who wanted to help their peers escape from student debt with lower interest rates.

You can consolidate all, just some, or even just one of your student loans.

Consolidating federal student loans may be a good strategy to lower monthly payments or to get out of default, but it is not always a good idea.

Instantly view loan options from $5,000 to $500,000 using our student loan refinance comparison tool.