The market had been in the doldrums since the financial crisis as investors lost their appetite for securities backed by private student loans.
Armed with millions in venture capital and a tech-friendly application process, So Fi focused on professionals, such as doctors, lawyers and MBAs, with high income and large amounts of student loan debt.
Over the past decade, college costs and fees have risen 3.5% faster than inflation each year on average.
This means that affording college is harder than ever.
In this guide I want to help you consolidate student loan debt and save money in the process.
Student loans consolidation is a relatively new concept.
And greater competition among private lenders recently has made student loan refinancing more accessible to borrowers.
The best private student loans offer low rates, rate discounts and a variety of incentives.
We found Citizens Bank to be the best in our private student loan review. Private student loans can be confusing, but for many people they can help make college affordable.
Direct Unsubsidized Loans do not require borrowers to have demonstrated financial need and start to accumulate interest as soon as they are awarded.
Sometimes a federal loan isn’t enough to cover the entire financial need and borrowers will fill the gap through a private student loan.