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Everyone knows you can slash payments on public student loans. Here are the secrets for private loans. strives to provide our users with helpful information while remaining unbiased and truthful. We hold our sponsors and partners to the highest industry standards. Once vetted, those sponsors may compensate us for clicks and transactions that occur from a link within this page.

If you have public student loans — those guaranteed by the federal government — you have so many options to help manage that hefty debt.

There are official programs with official-sounding names like income contingent repayment and income-sensitive repayment. Under certain circumstances, you can even get federal loans forgiven.

But if you took out private student loans, you can’t take advantage of any of these programs. Why? Because public student loans have interest rates set by Congress and don’t require a credit check.

Compare student loan refinance options to find the right solution to get out of debt faster.

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Private loans are issued by a nongovernmental financial institution like a bank or credit union, and you can be sure they’ll require a credit check to make sure you’re a good risk with their money.

So if you took out private loans, there’s nothing you can do, right? Wrong. Very, very wrong.

Save money on private student loan payments

If you want to save big on your private student loans, you need private student loan consolidation. Basically, you can combine numerous private student loans into one monthly payment that’s at a lower interest rate.

That lower interest rate is the key, because if you spend the same amount per month on those private student loans, you’ll pay off the principal faster. And since the principal is what you actually owe, you’ll be out from under your private student loans much faster.

If you’ve ever missed a payment because you had multiple loans and couldn’t keep track of all the due dates, consolidation also helps you avoid fees and stress — because one monthly payment takes care of everything.

Where to get the best interest rate

When it comes to big, important financial decisions, you want to work with a company you can trust., which offers debt solutions for almost any situation, has partnered with Credible, which has been featured on CNN and The Washington Post.

Since’s partners all agree to its Code of Ethics, you know you’re getting the best deal possible. Here’s how you can consolidate your private student loans today.

debt consolidation, interest rates, student loans

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