How much can I borrow on a private consolidation loan?
The minimum you can borrow is $7,500 per year. The maximum you can borrow is $125,000 for undergraduate debt and $175,000 for graduate school debt.
How do I apply for e-Student Loans Private Student Loan Consolidation?
The private student loan consolidation application process must be completed online at www.e-student-loans.com.
Do I need to be a graduate of an educational institution to be eligible?
Yes, you must provide proof of graduation from an eligible school within the e-Student Loans program.
What proof of graduation do I need to provide?
Your graduation date needs to be verified through documentation, such as a school transcript, copy of the degree, diploma or certificate, written or verbal school verification, or through an electronic method such as the National Student Loan Clearinghouse to receive a final approval for a private education loan consolidation.
How does the cosigner complete their portion of the application?
During the student loan consolidation application process, cosigners will be asked to create an account and complete their own application. They complete the same application procedures as the borrower for joint-credit.
Will both the borrower and cosigner’s credit be checked?
Yes. During the application process, and as part of the underwriting process, a credit bureau report on both the borrower and cosigner is pulled. The borrower’s creditworthiness or ability to repay the student consolidation loan is assessed based on the credit bureau reports of both the borrower and cosigner.
How do I check the status of my student loan consolidation application?
The status of your private student loan consolidation application is available by signing in to your account. Sign into your account at the following link: e-Student Loans. The green status bar you see immediately after login indicates which state your application is currently in.
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What do the stages of the status bar mean?
An initial credit decision is formed on the borrower and cosigner (if applicable)
The credit union lender makes a final review of the private consolidation loan application
The student consolidation loan disbursement is scheduled
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After filling out an application for private student loan consolidation is there a commitment to borrow?
No. A borrower may withdraw a request at any time and has up to 3 days after signing the loan agreement to cancel the loan.