- Advance cost terminology. In the event your monthly payments are too high, you may choose to refinance and you may prolong this new installment title for the the loan. Whenever you pay for high monthly payments and wish to shell out off your loan faster, you could potentially refinance in order to financing having a shorter repayment title.
Sallie Mae was once a loan servicer for private figuratively speaking and you will federal combination financing, however, prevented giving federal integration loans when you look at the 2008.
In the past, student loan consumers used Sallie Mae’s combination solution to combine several federal funds into the you to Sallie Mae mortgage. In that way, they might make use of a fixed interest and a beneficial unmarried payment per month.
However when Sallie Mae split into a couple – Sallie Mae and Navient Corporation – it became a financial characteristics business you to focuses primarily on originating individual student education loans. Continue reading “As to the reasons did Sallie Mae prevent giving student loan consolidation?”