Whenever researching your choices of either consolidation that is federal personal education loan refinance, you must know why these are a couple of various programs. They both combine your loans into one loan, nonetheless, they've different credit factors.
Then your answer is simple, most likely yes if you’re here because you want to consolidate your federal loans (no private student loans allowed) into a federal Direct Consolidation Loan.
Education loan refinance is a good option if you're seeking to potentially reduce your payment, apr, or eliminate a cosigner (such as your moms and dad) from a current loan. Nevertheless, in the event that you certainly have actually bad credit and would like to refinance your personal and/or federal student education loans, you've got an barrier to conquer. Personal education loan refinance lenders will demand you to definitely fulfill specific credit requirements. General needs, which differ by lender, are generally at the least two-years of employment history, and a credit rating with a minimum of 680 ( or perhaps the power to get yourself a cosigner).