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It is always preferable to compare student loan consolidation rates as some lenders offer unique consolidation benefits than others. Choosing one lender may save you hundreds or even thousands of dollars in interest over the life of your loan (depending on the loan amount you consolidate).
Following is a comparison of discounts offered by some student loan companies. AD Percent is the reduction in interest rate if you choose to pay via auto-debit. GP Discount is the reduction in interest if you are a good payer and make a minimum number of consecutive, timely payments. GP Months is the minimum number of months you must consecutively make timely payments before the GP Discount takes effect.
Some lenders offer a discount if you consolidate in your grace period, and some discounts require a minimum amount of indebtedness to qualify. Before making a final lenders choice contact the lender by phone or online to receive detailed benefit information.
Company |
AD Percent |
GP Percent |
GP Months |
Educational Loan Company |
0.5 |
1 |
24 |
Next STUDENT |
0.25 |
1 |
36 |
Citibank Student Loans |
0.25 |
1 |
36 |
US Dept. of Education |
0.25 |
0 |
0 |
Collegiate Funding |
0.5 |
1 |
36 |
Fed Ed Loans |
0.25 |
1 |
36 |
Collegiate Funding Services |
0 |
0 |
0 |
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