Yes, You can, but it might never be to your benefit to take action. In the event that you consolidate the 2, you’ll lose out on prospective education loan forgiveness programs, reduced interest levels, and federal student education loans’ unique payment options.
In case your credit history is strong, it might probably really very well be in your interest to achieve this, nonetheless, since private student education loans revolve around fico scores. It is very likely to obtain an improved price than that which you originally received in your student loan — in the event that you don’t head providing up the huge benefits that include federal loans.
Could I refinance student education loans?
Refinancing is similar to consolidating. To refinance, you’ll want to have a credit that is strong and report. In case the credit rating is poor, it is not likely refinancing is to your benefit.
But, should you have good credit rating, seek out a loan provider whom provides education loan refinancing. Compare their prices as to the you now have, and also make yes your remaining principal does exceed their loan n’t restrictions.