Start Consolidating student loans with bad credit

Consolidating student loans with bad credit

Borrowers typically have the option to make interest-only payments during this period in order to prevent accruing interest from increasing their balance.

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Variable-rate student loans have interest rates that can change during the repayment period.

Interest rates may increase or decrease at any time and typically do so based on changes to LIBOR.

Loans currently in default are generally not eligible for refinancing.

This is the lowest credit score a lender will consider when determining borrower eligibility.

Learn more"Term" refers to the length of the loan, typically in years.

In general, the shorter the term, the lower the interest rate and the higher the monthly payments.

Often, the introductory rate on a variable-rate loan is lower than that of a fixed rate loan, though it has the potential to increase later.

Learn more A fixed-rate student loan guarantees a single interest rate that does not change over the lifetime of the loan.

Fixed-rate loans often have higher rates than the introductory rates on variable loans.