Columbia University Student Financial Services
Graduate Financial Aid
Graduate Financial Aid
Private Loan Consolidation
In the past
year, several lenders have introduced the ability for students to
consolidate their private loans. The philosophy is the same as the FCL
in that this private consolidation loan pays off the underlying private
loans into a single private consolidation loan. Generally, they allow
for up to a 30-year repayment period. Not all lenders offer a fixed
rate option and many only offer them to domestic students. In addition,
most price out the loan based on FICO scores, debt/income ratios and
various interest rate indices.
