Consolidating private student loans going into default
Step 2: Go to your local credit union and see if they can match or beat your P2P loan Step 3: Take the loan with the lower interest rate If you aren’t eligible for a P2P loan from an Internet-only lender then try your local credit union.
Internet-only lenders The rise of technology allowed a new wave of lenders to offer an alternative to traditional bank loans.
Interestingly, some big banks have acquired or built their own online lenders which are offering consumers even better rates.
Sun Trust has done that with the acquisition of Light Stream, and Goldman Sachs Bank USA has recently invested in building Marcus.
Personal loans allow borrowers to have access to a fixed amount of money at a fixed interest rate, with a fixed monthly payment and you know when you’ll have completely paid off the loan.