Our list of pros and cons to Student Loan Consolidation! Learn about the best reasons to consolidate your student loans, and whether or not this loan product makes sense for you?

1. Private Student Loan
Consolidation
What are the pros and cons?

2. What is Private Student Loan
Consolidation?
When a borrower has a number of private student loans,
possibly with different lenders or different interest rates
and wants to combine them into one loan with one interest
rate, the loans can be consolidated.
The lender will pay off all previous private student loans, and
borrowers will owe that lender the combined amount, at
one interest rate.

3. Overview: Private Student Loan Consolidation
Pros
• Lower monthly payment
• One monthly payment to
one lender
• One interest rate
Cons
• Longer time in debt
• Extended term could
increase total interest paid
over the life of the loan.

4. Only One Payment
Everyone likes simplicity!
Would you prefer to make multiple monthly payments to
several lenders or one payment to one lender?

5. Loan Terms
A Private Consolidated Student Loan creates new loan terms.
Typically the borrower has a lower monthly payment for a
longer period of time.

6. Private Student Loan Consolidation has the
potential to lower your interest rate by 2 percent.
This is not guaranteed.
Interest Rate

7. Payment Flexibility
This includes:
• Interest only payments for the first four years of the loan
• Forbearance during financial hardship

8. Private Student Loan Consolidation
Borrowers Are Satisfied!
A recent survey of consolidation borrowers by
cuStudentLoans indicated that over 97% of consolidation
borrowers were satisfied!

9. Student Example - Shelby Jenkins
About Shelby:
Ohio Northern University
Six-year Pharm.D. program, completed in eight years
Graduated with $300,000 in student loan debt
Before Loan Consolidation:
Monthly interest: ranged from 9% to 13%
Total monthly payments = $2,800

10. Student Example - Shelby Jenkins
After consolidating (with custudentloans.org):
Shelby still had $300,000 in student loan debt, but refinanced
$120,000 of her private student loan debt.
After Loan Consolidation:
Monthly interest on private loan debt: 5.5%
Total monthly payments (private & federal) = $1,950
Monthly savings = $850

11. What Private Student Loan Consolidation
Borrowers Are Saying
“ I can put more money towards my loans to more quickly pay off debt”
Shannon Sullivan-Rhode Island School of Design ‘10.
“I can finally breath! I am still working to pay off my student loans, but I also
have enough cash to pay my rent and other bills!”
Ashley E. Rachael- Penn State University ‘11
“I’m paying less than half of what I was before refinancing”
Nathanial Wiggins- University of Houston ‘09

12. What Private Student Loan Consolidation
Borrowers Are Saying
“I have been able to live more comfortably, more dependably save money, and
apply more money to other debts that I have.”
Cory Fackiner- University of Utah ‘12
“With interest rates staying low, I have saved over 4.5% on interest”
Scott Schulte- The Ohio State University ‘11
“Gives me chances to put my money towards paying bills and saving to start a
family”
Lucas Harvey- Colby Sawyer College ‘08

13. Private Student Loan Consolidation Borrower
Stories….
“I had my first baby in the last year and my monthly savings really helps out with
the groceries. By the time my loan payment goes up my husband will be out of
residency and have a well paying job, so it really worked out for us while we
live off of a resident salary.”
Emily Arthur- University of Drexel ‘10
“We have been able to provide a more comfortable lifestyle for our little
daughter. We are also able to save more, and my husband has been able to start
his own business. His dreams were put on hold due to needing the 9 to 5
corporate job in order to maintain our income steady so that we could pay our
loans. Most of our income went to student loans.”
Cynthia Carreon- Mount Saint Mary’s College ‘09

14. Does a Private Student Loan
Consolidation work for you?
Calculate your savings at:
https://consolidation.custudentloans.org/calculator
or call us directly at:
(888) 549-9050