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College Students and Recent Grads

Where a College Degree Matters Most

Editorial Note: The editorial content on this page is not provided or commissioned by any financial institution. Any opinions, analyses, reviews, statements or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by any of these entities prior to publication.

value of a college degree

Earning your college degree can open the door to more career opportunities and a higher income. But, as a recent MagnifyMoney study points out, college degrees are more valuable in some metropolitan areas than in others.

Where you live has a major impact on your income, both during your working years and after you retire. Correspondingly, college degree holders in some cities are more likely to find employment, become homeowners or secure health insurance coverage than their peers elsewhere.

We examined income, employment and related data for degree and non-degree holders across the 50 largest metropolitan areas in the U.S. and ranked each area from 0 to 100. This “final score” represents the overall value of a bachelor’s degree in each area.

Here’s what we discovered about where a college degree matters most.

Top 5 cities where degrees are worth the most

Based on the study, the earnings-and-opportunities premium for those with college degrees seem most pronounced in wealthy and highly educated cities. The five places where degree-holders’ incomes outperformed were:

  • 1. San Jose, Calif. — At 79.1, this tech-industry nexus had the biggest boost for those with four or more years of college.
  • 2. Washington, D.C. — The nation’s capital, also known for its universities and policy institutes, ranked second, at 78.4.
  • 3. San Francisco — This neighbor to top-ranking San Jose scored 71.7.
  • 4. Raleigh, N.C. — With a rating of 71.5, Raleigh, home to many major corporate headquarters, came in fourth place.
  • 5. Austin — The Lone Star state capital rounded out the top five, with a score of 70.6

… And 5 cities where degrees matter least

  • 50. Riverside, Calif. — Of the top 50 U.S. metro areas surveyed, this neighbor to Los Angeles ranked lowest in terms of college degrees translating into higher salaries, rating 43.2 in our study.
  • 49. Las Vegas — This entertainment hotspot also had one of the smallest premiums for degree holders, with a score of 43.3.
  • 48. Buffalo, N.Y. — With a rating of 45.7, the upstate New York metropolis came third from last on our list.
  • 47. Pittsburgh — Pennsylvania’s second-largest city also fell low on the list, with a score of 47.4.
  • 46. Louisville, Ky. — At 51.7, Louisville ranks fifth from the bottom.

How a college degree affects income

A college degree remains a valuable asset for professionals, even when considering the student debt that often goes with it. On average, people with a bachelor’s degree make $22,422 more than those with only a high school diploma, as well as $16,682 more than those who attended some college or even received an associate’s degree.

But the difference is most pronounced in certain areas, such as San Jose, Washington, D.C., and San Francisco. As noted above, San Jose tops the list for places where college degrees are the most valuable. In this Californian city where nearly half the population has a bachelor’s degree or higher, the median income for degree holders is 83.6% above that for non-degree holders.

San Jose residents with college degrees also don’t seem to have a ton of student debt dragging down their finances. The ratio of median student loan balance to median degree-holder income was just 18.6%, the lowest of any metro area included in this study.

On the flip side, a college degree doesn’t correlate with a major boost in income in all areas. In Las Vegas, where 22.8% of the residents have a bachelor’s or higher, a degree only increases median income by 16.9%. In Riverside, California, the increase is just 20.4%.

Both these figures are well below the overall average of 53.9%. Plus, the ratio of median student loan balance to median income was 52.5% in Las Vegas and 58.2% in Riverside. So not only do residents see a lower return on investment from their degrees, but they also end up with burdensome student loan debt that’s difficult to pay off.

A relatively smaller salary and larger debt creates other problems, too. For example, if you’re hoping to use student loan refinancing to lower your interest rate or reduce your monthly payments, you’ll have more trouble qualifying for refinance with less pay and a heavier debt load.

It appears that differences in cost of living or earning opportunities can impact the value of a college degree to a major extent. Although a college degree increases earning potential anywhere, its effects are much stronger in some areas than in others.

How a college degree affects retirement income

Although a four-year degree’s effect on income varies by location, its impact on funds for retirement appears to be more steady. Overall, college degree holders have an average of 42.2% more in retirement income than those without a degree. This figure only changes by about 10 percentage points or less when factoring in location.

Retirement income refers to the money you have coming in after you retire. This could come from retirement savings, but it might also come from other assets, insurance, inheritances, stocks, pensions or Social Security allowances.

Surprisingly, having a degree only meant a 34.4% boost in retirement income in San Jose, the city where degree holders chalked up the biggest jump in income. The only city where a degree was even less valuable in terms of retirement income was Cleveland, where degree holders received an average of 32.2% more in median retirement income.

So why are people with degrees in areas like Cleveland only making 32.2% more than those without degrees, while those in other cities, such as Austin, get an average of 52.9% more? One key difference might be the availability of blue collar and government jobs with pensions.

Certain areas might provide more public sector jobs and other employment opportunities that come with pensions but don’t require college degrees. In those cities, non-degree holders might be better financially protected, even if they don’t have as high an earning potential as those with degrees.

Unfortunately, pensions in the private sector have become less and less common, and there’s no guarantee that even public sector pensions will continue to be available in the future. For now, though, they seem to be helping retired degree and non-degree holders alike, albeit in certain cities more than others.

How a college degree affects employment opportunities

Earning your bachelor’s doesn’t just open the door to higher-paying jobs; it also increases your chances of gaining employment at all. According to our study, degree holders are 52.7% more likely to be employed than non-degree holders.

Holding a college degree was most useful in Birmingham, Baltimore and Milwaukee, where degree holders were 63.7%, 63.7%, and 62.9% more likely to be employed, respectively.

On the other side of the spectrum, it had the lowest effect in Austin (35.4%), Los Angeles (39%), and Denver (40.5%).

According to the Bureau of Labor Statistics, a higher level of education corresponds with lower unemployment across the U.S. Bachelor’s degree holders had the lowest unemployment rate of 2.1% in April 2018. The data showed jobless rates rising for workers at lower education levels: 3.5% for people with some college education, 4.3% for high school graduates, and 5.9% for those without a high school diploma.

That said, employment opportunities vary by location, and some cities host industries that have little presence elsewhere. So while your education level impacts your chances of employment, so too does the metropolitan area in which you live.

How a college degree affects homeownership

Since higher education can lead to a higher income, it should come as no surprise that degree holders are also more likely to own homes. Overall, college graduates are 21.8% more likely to be homeowners than non-college graduates.

In San Antonio, bachelor’s degree holders are 40% more likely to be homeowners. In Las Vegas, having a degree correlates with a 33.7% greater chance of owning a home, and in L.A. it comes with a 31.4% greater chance.

That said, having your degree doesn’t necessarily mean you’re more likely to own a house. In Pittsburgh, degree holders are only 0.7% more likely to be homeowners. And in Buffalo, that likelihood is only 11.3% higher.

Lots of factors play into homeownership, including the average age of the local population, how much student debt residents have and of course, the cost of real estate itself. In some areas, low prices might make it easier for all residents to buy homes, regardless of whether they hold a college degree and receive the higher income that often goes with it.

On the flip side, high costs of living could make homeownership cost-prohibitive for everyone, especially if degree holders are paying off large amounts of student debt. With high student loan payments, graduates might be wary of taking on a mortgage — or might not have the financial credentials to qualify in the first place.

How a college degree affects health insurance coverage

The U.S. has an employer-based health insurance system, meaning many of us rely on our employers to provide coverage. Since employers tend to subsidize health care costs, employer-sponsored plans are typically the most affordable.

Since we saw that college degree holders tend to have higher rates of employment, as well as bigger salaries, it follows that they’re also more likely to have health insurance. The difference is not particularly dramatic, though: Overall, those with degrees are just 11.5% more likely to have health insurance.

The gap is most evident in Houston, Dallas and Miami, where college graduates are 20.1%, 18.2%, and 18.1% more likely than non-college graduates to have coverage, respectively. But in Buffalo, Boston and Providence, the difference is minimal, with the relative likelihood at just 4.4%, 4.5%, and 5.9%, respectively.

One variable to consider is the availability of state-sponsored health insurance. For instance, Massachusetts has MassHealth, a state-run program that provides affordable health insurance to low-income residents. If your state has a similar program, you might not need employer-sponsored health insurance if you meet eligibility criteria. But if not, you could be facing high premiums without the help of an employer.

College degrees remain valuable, despite high rates of student debt

With the high rates of student debt in the U.S. — $1.48 trillion at the latest count — it’s natural to feel skeptical about the value of a college degree. But even with the student loans that often accompany higher education, a college degree remains valuable across the country.

Not only does it correlate with higher income, but it also boosts your chances of employment. Plus, having your degree could lead to higher retirement income, an increased chance of homeownership and a greater likelihood of health insurance coverage.

That said, the value of a degree isn’t the same everywhere. Some cities might be home to industries that look for college degree holders, while others might not have as many employment opportunities or high-income careers.

If you’re looking for the greatest return on investment for your degree, consider moving to an area with job opportunities in your current field. Cost of living might be another important factor when choosing where to live, as it could have a big impact on your chances of becoming a homeowner.

By being selective about where you reside, you can leverage your college degree into a high-paying career, as well as a higher income after you retire. Not only will earning your college degree likely lead to greater financial stability but optimizing where you live can also help put your degree to work for you.


This study was conducted by Prabhat Kumar and Aditya Patil. It was limited to the 50 largest statistical metropolitan areas by population, and measured differences between people ages 25 and older with and without four-year degree educations or higher. Six metrics were scored from 0 to 100: ratio of median loan balance to median income for degree holders; difference in median incomes between degree holders and non-degree holders; difference in median retirement incomes; difference in unemployment rates; difference in homeownership rates; and the difference in health insurance coverage. These were assigned weights and then combined into one score. Income and rent values were normalized using the Regional Price Parity from the Bureau of Economic Analysis to account for variability in buying power across the MSAs. Data was sourced from 2016 American Community Survey data from the U.S. Census hosted on IPUMS and American FactFinder and from a student loan balance study published in May by LendingTree (our parent company).

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Rebecca Safier
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Rebecca Safier is a writer at MagnifyMoney. You can email Rebecca here

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College Students and Recent Grads, Pay Down My Debt

Sample Goodwill Letter to Remove a Late Student Loan Payment from Your Credit Report

Editorial Note: The editorial content on this page is not provided or commissioned by any financial institution. Any opinions, analyses, reviews, statements or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by any of these entities prior to publication.

Businessman Holding Document At Desk

If you’ve pulled your credit report recently and discovered that there’s been a late payment reported on your student loans, you might be wondering what you can do to recover. Late payments can damage your credit, especially if you stop paying your loans for an extended period of time.

We’ve already gone over the repercussions of delinquency and default, but now let’s take a look at another method of repairing your credit report — sending a goodwill letter to your creditor.

What is a goodwill letter?

A “goodwill letter” is a simple way to repair your credit report, and it can be used for both federal and private loans. The purpose of a goodwill letter is to restore your credit to good standing by having a lender or servicer erase a lateness on your credit report.

Typically, those who have experienced financial hardship due to unexpected circumstances have the most success with goodwill letters. They allow you to ask if your student loan servicer can empathize with the situation that caused the lateness and erase it from your report.

It can also be used when you think the late payment is an error — for example, if you were in deferment or forbearance during the time of the late payment and weren’t required to make any payments, or if you know you’ve never been late on a payment before.

What makes a convincing goodwill letter?

If you’ve been looking for a goodwill letter that will work well, we have some tips on what you should include in your letter:

1. An appreciative tone

It’s important that the entire tone of your letter comes off as thankful and conscientious. If you were actually late on your payments due to extenuating circumstances, taking an angry tone probably won’t help your case.

2. Take responsibility

You want to be convincing and honest. Take responsibility for the late payment, and explain why it happened. They need to sympathize with you. Saying you just forgot isn’t going to win you any points.

3. A good recent payment history

Besides sympathy, you want to gain their trust that you will continue to make payments. If your lender sees payments being made on time before and after the period of financial hardship, it might be more willing to give you a break. When you have a pattern of late payments, on the other hand, it’s more difficult to convince them that you’re taking this seriously.

4. Proof of any errors and relevant documents

If you’re writing about a mistake that occurred, still be friendly in tone, but back up the errors with documentation. You’ll need proof that what you’re saying is true. Unfortunately, errors are often made on credit reports, and it may have been a clerical error on behalf of your servicer. If you have any written correspondence with them, you’ll want to include it.

5. Simple and to the point

The last thing to keep in mind is to craft a short and simple letter. Get straight to the point while telling your story. The people reviewing your letter don’t want to read an essay, and the easier you make their lives, the better.

Sample goodwill letter No. 1

Below is a sample goodwill letter for student loans to give you an idea of how to structure your own:

To whom It may concern:

Thank you for taking the time out of your day to read this letter. I just pulled my credit report, and discovered that a late payment was reported on [date] for my account [loan account number].

During that time, my mother fell terminally ill, and I was the only one left to care for her. As such, I had to leave my job, and my savings went toward her health care expenses. I fell on very rough times after she passed away, and was unable to make my student loan payments.

I realize I made a mistake in falling behind, but up until that point, my payment history with you had been spotless. When I was able to gain employment once again, I quickly resumed paying my student loans, making them a priority.

I’m not proud of this black mark on my record, but it’s the only one I have, and I would be extremely grateful if you could honor this request to remove the lateness from my credit report. It would help me immensely in securing other lines of credit so that I can further improve my credit score.

If the lateness cannot be removed entirely, I would still be appreciative if you could make a goodwill adjustment.

Thank you.

Sample goodwill letter No. 2

If you’re writing a letter because the lateness on your credit report is inaccurate, then try something similar to this:

To whom it may concern:

Thank you for taking the time to read this letter. I recently pulled my credit report and found that [Loan servicer] reported a late payment regarding my account [loan account number].

I am requesting that this late payment be assessed for accuracy.

I believe this reporting is incorrect because [list the supporting facts you have]. I have included the documentation to prove that [I made payments during this time / that my loans were in forbearance/deferment and didn’t require any payments].

Please investigate this matter, and if it is found to be inaccurate, remove the lateness from my credit report.

Thank you.

Make sure you provide as many personal details as possible — without making the letter too long, of course. You should also include your name, address and phone number at the top of the letter in case your loan servicer needs to reach you immediately.

Where to send your goodwill letter

Now that your letter is written, it’s time to send it. This can be done either by fax or by mail. Most student loan servicers have their contact information on their website, but you can also look on your billing statements to see if they specify a different address.

Additionally, you can try calling the credit bureau where the lateness was reported to see if they can give you the contact information you need.

It’s important to mention that goodwill letters are not a means to immediate success. Unfortunately, it often takes several attempts to correspond with servicers and lenders to get them to acknowledge that they received a letter from you.

Your best bet is to get a personal contact at the company who has the power to erase the late payment from your credit report.

If all else fails, try as many different communication methods as possible. Phone, mail, fax, live chat (if your servicer offers it) and email them. Several people who have tried this report that it’s possible to wear your servicer down with a decent amount of requests.

Addresses and fax numbers to try

Here are some addresses and fax numbers for several of the larger servicers, as listed on their websites. Again, it may also be worth phoning your servicer to get the name of someone there that can help you. If you have federal student loans, you can also check this Federal Student Aid page for more contact information.


Documents related to deferment, forbearance, repayment plans or enrollment status changes:

Attn: Enrollment Processing

P.O. Box 82565

Lincoln, NE 68501-2565

Fax: 877-402-5816

Great Lakes

Great Lakes

P.O. Box 7860

Madison, WI 53707-7860

Fax: 800-375-5288

Sallie Mae

Sallie Mae

P.O. Box 3229

Wilmington DE 19804-0229

Fax: 855-756-0011


For anything other than federal loans, check here

Navient – U.S. Department of Education Loan Servicing

P.O. Box 9635

Wilkes-Barre, PA 18773-9635

Fax: 866-266-0178


P.O. Box 145122

Salt Lake City, UT


Fax: 801-366-8400


For letters and correspondence

FedLoan Servicing

P.O. Box 69184

Harrisburg, PA 17106-9184

Fax: 717-720-1628


For FFELP and private loans, check here

Edfinancial Services

P.O. Box 36008

Knoxville, TN 37930-6008

Fax: 800-887-6130

Documents to include with your goodwill letter

Don’t let your efforts go to waste by forgetting to send documentation with your letter. Here’s a quick checklist of what you should include:

  • The account number for your loan
  • Your name, address, phone number and email
  • Statements showing proof that you paid (if you’re disputing a late payment)
  • Documentation showing that you’ve paid on time at all other points aside from when you experienced financial hardship (if that’s the case)
  • Identifying documentation so your servicer knows you sent the request

Also note that if you’re mailing anything, you should send it by certified mail with a receipt requested. This way you’ll know whether your letter made it to the servicer.

What to expect after submitting your goodwill letter

Once you submit your goodwill letter, you should hear back from your creditor with a decision in a few weeks. If two to three weeks have passed without word, follow up via email or phone call.

As you know, there’s no guarantee that your goodwill letter will work. The decision to remove a negative mark from your credit report is entirely in the hands of your creditor.

If your creditor rejects your petition, you’ll have to accept the ding on your credit report and take other steps to boost your credit. But if they agree to repair your credit, you should see the delinquency removed from your report and your credit score increase as a result.

A higher credit score can make life a lot easier, whether you want to take out a loan, open a credit card or, in some cases, even rent an apartment. For student loan borrowers, a strong credit score also opens the door to student loan refinancing, a savvy strategy that lets you restructure your debt, possibly changing your monthly payment and potentially saving money on interest.

If your credit score rebounds and you want to take proactive steps to conquer your student debt, refinancing could be the answer you’ve been looking for, so long as you no longer need the protections that come with federal loans.

Either way, though, make sure to keep up with student loan payments so you don’t end up with a delinquent account dragging down your newly repaired credit score.


If you’re interested in exploring goodwill letters further — and the results that others have had — check out these websites:

  • They cover disputes, what to do about them and how to go about rectifying them here.
  • If you have loans with a private lender, and your lender had reported you as late when you weren’t, you can file a complaint with the Consumer Financial Protection Bureau (CFPB) to see if they can help you.
  • myFico Forums: The forums on myFico are populated with helpful individuals that might be able to give you contact information for certain servicers. There are some people reporting success with goodwill letters, and they may be willing to share their letters with others upon request.

It’s worth the time to write a goodwill letter

If you’ve discovered that a late payment has been reported on your credit, and it’s because you fell on hard times or is inaccurate, it’s worth trying to get it erased. These dings on your credit are there to stay for seven to 10 years. That’s a long time, especially if you’re young and hoping to buy a house or a car in the near future. It’s a battle worth fighting.

Get in touch with us on Twitter @Magnify_Money

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Rebecca Safier
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Rebecca Safier is a writer at MagnifyMoney. You can email Rebecca here

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College Students and Recent Grads

FedLoan Consolidation or Refinancing: Which Is Best for Your Student Loans?

Editorial Note: The editorial content on this page is not provided or commissioned by any financial institution. Any opinions, analyses, reviews, statements or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by any of these entities prior to publication.


If your FedLoan Servicing repayment isn’t going as you had hoped, you might be staring at two seemingly similar options: Both FedLoan consolidation and private loan refinancing would consolidate or group your federal education debt, making for a more straightforward repayment.

But that’s where similarities between consolidation and refinancing end. If you’re unsure about which to go with, read on for the details.

What to know about FedLoan consolidation

Consolidation involves taking out a direct consolidation loan to repay your original federal student loan debt, and it could solve a number of problems.

Most notably, you could make a single monthly payment to one servicer instead of a handful of them (if you have multiple federal loans serviced by various companies). Although that won’t save you any money, it could bring you much appreciated simplicity.

Through federal loan consolidation, you could also expect the following benefits:

  • Choose your new loan servicer, whether that’s FedLoan or a competitor.
  • Become eligible or retain eligibility for Income-Driven Repayment (IDR) plans and Public Service Loan Forgiveness (PSLF).
  • Lower your monthly payment by switching from the 10-year standard repayment plan to an IDR plan.
  • Lock in a fixed interest rate (if any of your older federal loans were tagged with a variable rate).

The benefits aren’t bereft of fine print, however. When you consolidate loans you’ve already started repaying, for example, you reset the clock on any progress toward forgiveness via IDR or PSLF. Also, none of your private loan debt (if you have any) can be combined via a direct consolidation loan.

How to undertake FedLoan consolidation

If the pros outweigh the cons in your case, file your FedLoan consolidation application at According to the website, most applicants are able to complete the necessary forms in less than 30 minutes.

If you elect to keep FedLoan as your servicer, you can track your application progress via your MyFedLoan account. A resolution should arrive within four to six weeks.

FedLoan Servicing

What to know about student loan refinancing

When you consolidate your federal debt, your new loan’s rate will be a weighted average of your previous federal loans’ rates, rounded up to the nearest one-eighth of 1%.

Via student loan refinancing, however, you could reduce the collective interest rate of your federal debt — and (unlike with consolidation) your private student loans, too — potentially cutting it by whole percentage points.

That’s the greatest difference between FedLoan consolidation and private refinancing — and it explains why many creditworthy borrowers save hundreds even thousands of dollars on interest when working with a private lender.

Say you have four federal loans with FedLoan Servicing worth $35,000 accruing interest at an average rate of 7.00%. Now say you have sterling credit and stable income (or a cosigner who does). By refinancing to a rate of 5.00%, you’d save $4,218 on interest over the next decade.

To be eligible for such savings, however, you — and your cosigner, if you have one — must submit to a credit check. Only applicants with strong credit gain access to the lowest rates advertised by competing lenders. This stands in contrast to consolidation, which has no such credit requirements, making it a more accessible option.

If you have the finances to qualify for refinancing, you could enjoy other benefits besides a lower interest rate, including:

  • Leaving the federal student loan system behind and starting fresh with a top-rated private lender of your choice
  • Selecting fixed, variable or hybrid interest rates
  • Lowering your monthly payment in exchange for lengthening your repayment term and paying more interest overall
  • Releasing the cosigner on your undergraduate private student loans

The cons, however, are just as consequential. In exchange for the perks of private refinancing, you’ll lose access to all federal loan protections. This includes mandatory forbearance (should you need to pause your payments), IDR programs and forgiveness programs like PSLF.

Because refinancing is irreversible once you sign your loan agreement, it’s wise to weigh these plusses and minuses in advance.

How to refinance your FedLoan debt

If you elect to refinance, you can initiate the process by shopping around for the  best possible loan terms. You might also delay your search to improve your credit or find a cosigner who can help you qualify for the very lowest rates.

Once you’ve selected a refinancing lender — whether it be a bank, credit union or online-only lender — it would pay off your FedLoan (and any other eligible education debt). Then your lender would issue you the newly refinanced loan as a fresh start on your repayment.

Try crunching some numbers on our student loan refinancing calculator to estimate your savings (or cost), plus your new monthly payment, when comparing lenders’ quotes.

Should you pick FedLoan consolidation or FedLoan refinancing?

If you have poor credit and no cosigner in sight, you might already have your answer. Consolidation won’t save you money, but it will simplify your repayment, and it’s accessible to all federal loan borrowers.

With strong credit, you might also have the option of refinancing on the table. Whether it’s right for you, however, is another story.

As you’ll see, picking between consolidation and refinancing for your FedLoan debt (or any other loans, for that matter) isn’t just about what you’ll get. It’s about what you’re willing to give up.

This chart might help you as you consider which strategy is best for your situation:

What’s your repayment goal?Do you need federal protections?Your better option is probably ...
Switch to a single monthly payment (for your federal loans only)YesConsolidation
Switch to a single monthly payment (for both federal and private loans)NoRefinancing
Reduce your interest rateNoRefinancing
Work with a new loan servicerYesConsolidation
Work with a new lenderNoRefinancing
Choose a variable interest rateNoRefinancing
Lower your monthly paymentYesConsolidation
Lower your monthly paymentNoRefinancing
Make income-based payments and work toward loan forgivenessYesConsolidation

If you’d like to switch loan servicers, have a single monthly payment and reduce your interest rate, refinancing could deliver all three benefits.

But if you’re not willing to yield your government-exclusive loan options (such as IDR and PSLF), then you could settle for two out of three: Consolidation would allow you to work with a new servicer and achieve a simpler repayment, but not lower the rate.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Andrew Pentis
Andrew Pentis |

Andrew Pentis is a writer at MagnifyMoney. You can email Andrew here

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