Best Banks For Consolidating Student Loans

Sallie Mae

Sallie Mae offers loans at competitive rates. The interest rate is fixed until it reaches 9.99 percent. After that, the interest rate increases by 0.25 percentage points per year. If borrowers want to consolidate their student loans, they should choose Sallie Mae. Sallie Mae is highly rated among consumers and banks.

Citibank

Citigroup’s bank provides students with personal loans. One reason why people choose Citibank over other lenders is that its loan repayment options allow you to pay off your loan slowly. Over time, your monthly payments decrease. You may also have different ways to repay your debt. At times, you can repay your entire balance in four months or less.

Bank of America

Bank of America is known for offering low-interest loans. Its prime rate is 5.75 percent. However, if you have a good credit score, you will not have any problems getting approved for a loan. One thing you need to know before applying for a loan is that BofA charges higher fees than some other lenders.

Wells Fargo

Wells Fargo is one of the best banks for consolidating student loans. Its average interest rate is 6.84 percent. Before you apply, make sure that you check whether your school or college is eligible to participate in federal financial aid programs. If so, then you will qualify for lower interest rates. There are no prepayment penalties when using Wells Fargo.

Chase

Chase Bank is one of the largest banks offering personal loans. Its interest rate is 4.85 percent and its minimum payment is $50. However, if you use a debit card, you will face a $10 ATM fee on each transaction. This is charged by the bank. If you don’t mind paying these fees, then Chase is a great option for you.

Citi

If you seek a high APR, then Citi may be the right choice for you. The bank offers an APR ranging from 16.15 percent to 23.45 percent. If you plan to consolidate your student loans, you should consider Citi’s low-cost loans. Also, some individuals who owe money on certain consumer accounts may find themselves eligible for consolidation.

Discover

Discover Bank is another lender you can choose. Its APRs range between 10.95 percent and 17.90 percent. As long as you have a solid FICO score, you should qualify to get a loan. Discover is known for offering great customer service.

Best Banks For Consolidating Student Loans

StudentLoans Consolidation

If you find yourself here, chances are your currently dealing with student loan issues. In today’s fast paced world of finance we understand times get hectic, and it’s difficult to know what do when you’re in consolidation trouble. That’s why we want to help you. If you would like to learn how to contact any of these companies please visit our website or check out their websites. To receive quality customer care call 1-855-669-9508. Do not hesitate to give us a call if you wish to speak to someone in person before signing legally binding paperwork. Either way we look forward to assisting you 🙂

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Best Banks For Consolidating Student Loans

Sallie Mae

Sallie Mae is a leading student loan company. This financial institution offers two different types of credit cards with great rewards programs. Students who consolidate their loans with this program could find themselves saving over $100 per month. If they do not need a minimum balance then they would save even more money on interest rates. You should consider applying before school starts if possible.

Capital One 360

Capital One 360 is a credit card that offers no annual fee with an APR that is lower than the average APR at 14.74%. There is a minimum requirement of $500 but it does have an option for those that earn less than that amount. This gives students the opportunity to use their student’s income to pay off their existing debt instead of paying extra fees.

Chase Ink

Chase Ink is a student credit card that has no annual fee and requires only a $200 minimum payment. There is a 0% introductory APR and 15-21 percent variable APR after that making it low for everyone. In addition to these benefits, this card has a limit of $250 cashback and $750 travel reward.

Citi Simplicity

Citi Simplicity allows users to create a spending budget for each category of spending including food, entertainment, gas, utilities, transportation, clothing, etc. Once users set up their budget, they receive alerts when they go over their allotted budget for any category. These alerts help to prevent them from going over their budget and helps them avoid late payments. Users can also keep track of their progress towards reaching their goals.

Barclaycard Arrival Plus

This credit card has no annual fee and a 0% intro APR for 12 months. After that time period, the APR varies between 10-15%. However, this card still has some benefits that make it worth using. For example, the Visa Signature card comes with a free $25 statement credit once users spend $1,000 within three months.

Simple Financing

Simple Financing is a student credit card from Discover Bank. It has an APR of 18.24%, but it is one of the lowest. This card does require a year long commitment and a minimum of $300/month. However, it has some great features such as a $50 gift card upon opening a checking account, zero foreign transaction fees, and no activation fees.

USAA CashForward Card

USAA CashForward Card has a minimal application fee of $0 and does not have an annual fee. Its APR is 9.99%. Another great feature is its automatic debit plan. Every month, users will automatically transfer $10 out of their checking account to their Cash Forward Card.

Best Banks For Consolidating Student Loans

If you’re looking for the best banks for consolidating student loans, here are some options to consider.

1 Chase Bank/Chase (formerly AmeriCredit)

AmeriCredit was acquired by JPMorgan Chase & Co. in 2013. Chase Bank offers students a variety of financial products and services including checking accounts, credit cards, mortgages, auto loans, home equity lines of credit and much more. You can receive a $200 bonus if you open a Chase Total Checking® account online and set up direct deposit. Alternatively, they offer an Amazon.com Rewards Visa card, making it easier to earn cash back while paying no annual fee. More information about these special offers can be found here.

2 Capital One 360

Capital One 360 is one of the biggest banks in the U.S., with over 12 million customers nationwide. Capital One offers various types of loans, including private student loans, federal PLUS loans, and military loans along with checking and savings accounts. Additionally, Capital One provides several different types of credit cards for eligible customers. To apply for Capital One credit cards, just follow their three-step application on Credit.com.

3 CITI Direct

Citi Direct is a division of Citigroup Inc. and is dedicated to providing education loans and personal loans for graduate school, undergraduate college tuition, college graduation costs and professional training programs. Citi Direct helps borrowers save money and time by offering competitive rates and flexible payment terms. Citi Direct offers two types of loans: Private Graduate School Loans and Federal Parent Plus Loans. Both have variable interest rates ranging between 4.99% – 9.49%. Citi Direct also offers a Direct Loan Program, which gives people the option to borrow directly from the government.

Best Banks For Consolidating Student Loans

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