Lowest interest rate for consolidating college loans

Requesting these prequalified rates will not affect your credit score, and your personal information is not shared with lenders unless you see an opportunity you wish to proceed with.

Treat your student loan like any other financial transaction — shop around for the best deal before making your decision.

Talk it over with your family and guidance counselor.

If you have friends already in college, ask them for recommendations on getting a student loan.

To be eligible to refinance at an attractive interest rate, you'll typically need a history of earnings and a credit score that gives lenders the confidence that you'll be able to repay your student debt.

If you don't qualify to refinance right after graduation on your own, you may be eligible with a creditworthy cosigner.

Learn more: The choice often comes down to your tolerance for risk.

While you may start off with a lower rate if you choose a variable interest rate, the rate can go up and down, along with your monthly payment.

When you're ready, you can apply for your student loan online — quicker and easier than you might think — and get the money you need for college.

Many lenders offer cosigner release once borrowers have made a minimum number of on-time payments and can demonstrate they are ready to assume full responsibility for repayment of the loan on their own.

Take two minutes to fill out our form, and if you're eligible you’ll see personalized, prequalified rates on your dashboard from each partner lender you qualify for.

However, you could lower monthly payments by qualifying for income-driven repayment options that stretch out your payments over a longer period of time.

Borrowers who do not qualify for student loan forgiveness may end up paying considerably more in interest payments.

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