For Immediate Release
January 19, 2016
Contact: College Planning & Community Engagement
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Concord, NH — EDvestinU®, the nonprofit private student loan program of the New Hampshire Higher Education Loan Corporation (NHHELCO), recently introduced a change to their Consolidation Loan which now offers borrowers the ability to consolidate both federal and private student loans into a single, new loan.
In addition, parent borrowers now have the opportunity to refinance federal PLUS loans into a private loan, often at a lower interest rate than through the federal student loan program.
“There are many benefits to consolidating or refinancing student loans,” states Rich Neilsen, EDvestinU’s Education Loan Program Manager. “We often find that most borrowers are looking to reduce their monthly payment obligation which can be done by consolidating at a lower interest rate or extending the repayment term. Consolidating also provides borrowers with an opportunity to release a parent, relative, or friend as a cosigner from their loans.”
Loans which may be included in a student’s EDvestinU consolidation loan include all federal and private student loans as well as any previously consolidated loans. Parents may consolidate federal parent PLUS loans and any previously consolidated loans.
EDvestinU Annual Percentage Rates range from 3.17% to 8.24% with enrollment in Autopay. Borrowers may select a fixed or variable interest rate. Repayment terms of 15 and 20 years are available and there is no fee to apply.
For more information, visit www.edvestinu.com or call 855.887.5430.