Consolidating student loans pros and cons

Posted by / 05-Sep-2017 06:22

Consolidating student loans pros and cons

Though it offers the highest loan limit of the private student loan providers we reviewed, you have 15 years to repay your PNC student loan.Further, PNC requires four years of on-time payments before it will release a cosigner from a loan.After you've exhausted your options for scholarships, grants and federal student loans, it might be time to consider a private student loan.PNC Bank offers the highest loan limit of the 10 lenders in our review with a loan maximum of 5,000.When we tested their live chat service, we received a response within three minutes.

More than 40 million Americans have student loan debt.

Many couples handle their student debt differently; for example, each spouse could handle their debt separately with their own income.

Some couples choose different methods; for instance, some married couples choose to consolidate their student loans under one name. One thing to note is that if you or your spouse has loans through the Federal Direct Loan program, you can’t consolidate your student loans with your spouse’s loans.

If you need a cosigner, they remain on the loan for four years before they can be released (and each payment needs to be on time).

If you need a loan with a high limit, PNC may be the best student loan provider for your situation.

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After 48 on-time payments, PNC will let you apply to release the cosigner from your loan.

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