Compare common student loan options and understand the differences between new loans, refinancing, and consolidation before choosing your next step.
DegreeBoost provides educational and marketing information. Available options, eligibility, rates, and terms vary by provider.
Your best option depends on where you are in your education and what you want to accomplish with your student loans.
Designed for students who are looking for funding options to help pay for eligible education expenses.
Replace one or more existing eligible student loans with a new loan from a private lender.
Combine eligible loans into a simplified repayment structure, depending on the type of loans involved.
A simple overview to help you understand the general differences between these student loan options.
| Feature | New Student Loans | Refinancing | Consolidation |
|---|---|---|---|
| Best For | Students seeking education funding | Borrowers with existing eligible loans | Borrowers managing multiple loans |
| Creates a New Loan? | Yes | Yes | Depends on the consolidation program |
| May Simplify Payments? | Not usually the primary purpose | Often | Often |
| Eligibility Review? | Yes | Yes | Yes |
| Terms May Change? | Yes | Yes | Yes |
Take a few minutes to understand your current situation before exploring available offers.
Are you funding school, managing current debt, or looking for a different repayment structure?
Understand your current balances, loan types, interest rates, and repayment terms.
Review available eligibility requirements, terms, fees, and other important details.
Choose an option only after reviewing the complete terms provided by the lender.
Student loan decisions can have long-term financial consequences, so compare carefully.
Review interest rates, APR, potential fees, and the total cost of borrowing before making a decision.
A lower monthly payment may result in a longer repayment period and potentially more interest paid over time.
Certain loan types may include borrower protections or benefits that could change if you refinance.
Take the next step and explore available student loan options based on your individual financial situation and eligibility.
Explore Available OptionsAvailability and eligibility vary by provider. Review all terms before submitting an application.