Private Student Loan Consolidation

Student loan consolidation

Private student loan consolidation may allow you to combine all of your eligible private student loans into a single loan when you graduate or leave school.

Benefits of private student loan consolidation

The biggest benefit of private student loan consolidation is that it allows you to make possibly one private student loan payment every month by combining all eligible private student loans into one loan. You can consolidate your private student loans even if you have multiple lenders.

Consolidating your private student loans can potentially lower your combined monthly payment by extending your repayment term.

In most cases, consolidating your private student loans will extend the repayment period beyond the repayment periods of the private student loans being consolidated. However, your monthly loan payment may be lower than your individual private student loan payments combined. Extending the loan term will likely increase the overall cost of your loan. You can choose to repay principal at any time with no prepayment penalty. Federal student loans should not be consolidated with private student loans.

This information was current as of 09/01/2011 and is subject to change. Contact Chase for current product information.