Consumer reports consolidating student loans

02 May

Founded in 2011 and headquartered in San Francisco, So Fi is an award-winning marketplace lender offering fixed- and variable-rate student-loan refinancing.

The company also provides unemployment protection and career support.

It’s hard to argue against making student loan payments more affordable.

So Fi (which is pronounced "SEW-fi", short for "SOcial FInance") is one of the most innovative resources available for both federal and private student loan consolidation.Consolidation companies and programs can offer several benefits in additional to simplifying the repayment process.Borrowers should thoroughly research the interest rates for their existing loans and any forgiveness or deferment benefits attached to their existing loans before consolidating loans.Student loan debt can be overwhelming, especially if the borrower has multiple lenders and both private and federal loans.Consolidation allows students to combine all their loans into a single loan, with one monthly payment to a single lender.