Managing Your Student Loans

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We know that to fund your program most of you have had to take on loans. Once you graduate, it is extremely important that you consolidate these loans as soon as possible.

A lot of the government programs allow the consolidation of only federal student loans. If you had to take out a combination of government and private loans, there are alternative programs. Here are some links to resources you might want to check out.*


Many lenders and student loan companies now offer ways to consolidate both federal and private loans into a single loan. Often borrowers are now graduates with better credit and a higher income than when they initially took out loans. That means they can qualify for significantly lower interest rates and better terms with a consolidated loan. To help you find the best student loan consolidation company for your specific needs, Credible outlines the offerings of the top 19.

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LendEDU matches lenders to applicants looking to refinance their student loans. It provides borrow rates from multiple lenders utilizing a single application. LendEDU uses what is referred to as a “soft” credit inquiry which does not hurt an applicant’s credit rating. Its website has guides, reviews, and financial literacy resources for borrowers and also provides a financial aid hotline available via text.

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Refinancing is a way to save money by replacing your existing student loans with a new, lower-rate loan. To qualify, you need strong credit and a steady income, or access to a co-signer.

Student loan refinancing is not the same as federal student loan consolidation. Federal consolidation is simply a way to combine multiple loans into a single monthly payment.

Nerdwallet works with Credible to help you compare refinance lenders on Credible, compare additional refinance lenders, estimate how much you could save, and learn when not to refinance.

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Public Service Loan Forgiveness

If you are employed by a government or not-for-profit organization, you may be able to receive loan forgiveness under the Public Service Loan Forgiveness Program. Learn more to see whether you might qualify.


* The MACCP program has no relationship with any of these services. We cannot endorse any of them, but instead are providing this information solely as a service to our students.


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