Consolidating student loans low interest rates

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Borrowers with scores under 600 may find it difficult to qualify for a personal loan without a cosigner or collateral; your results may vary by lender.To calculate the average interest rates by credit category, we segregated our lender marketplace into four separate credit categories and calculated the average range of rate quotes for each.Due to the reduced monthly payments, many borrowers may be tempted to continue spending beyond their means.This can result in borrowers ending up even deeper in debt.This will further reduce your interest expenses and leave you debt-free faster.

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We provide the high and low range of each credit class: *Many lenders require a minimum credit score of 580 or higher.Instead, borrowers should think of debt consolidation loans as a second chance to set their finances in order.Any excess cash saved from the reduced payments should be viewed as opportunities to rid themselves of their existing debt.The average interest rate for debt consolidation loans can vary significantly depending on your credit profile.Debt consolidation loans, on average, carry a higher interest rate than other types of debt.

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