Deciding on a loan consolidation company can be difficult, especially with the problems most graduates and undergraduates are currently facing trying to pay off their student loan debt. Consolidation can help with this process, lumping all of the loans together so that the student only has to pay one monthly sum. However, even this can be difficult, depending on the kinds of loans that were originally taken out, whether they are federal loans, private loans, or a combination of the two. cu Loan consolidation and Wells Fargo, however, only consolidate on private loans, so the student has no worry about his federal loan benefits and rights being erased. But which consolidation company is better for the student's needs?

Here are some benefits provided cu Loan consolidation and Wells Fargo that may make this choice easier.


The Cu Student Loan Consolidation program, named the EdSucceed Private Student Loan Consolidation, has a few requirements before a student may become eligible for loan consolidation. The graduate must:

  •   have graduated from an EdSucceed eligible school within the past 5 years
  •   have a steady, reliable job that grosses at least $2,000 a month
  •   have an annual income that is greater than the amount of the loan being sought, or adding a cosigner to increase the amount of income
  •   be a United States Citizen

Finding out if a school is EdSucceed eligible isn't difficult, as the Cu website makes this process easier to determine Cu Loan Consolidation is right for the undergraduate.

Cu student loan consolidation also places more negotiation power in the hands of the graduate, since private loans are based on his or her credit score. Interest rates can be reduced if the graduate has increased his credit score since taking out his student loans, has a cosigner with a high credit score, or is willing to bargain by using another creditor's quotes to drive the interest rates down.

Other benefits provided by Cu Loan Consolidation are co-signer release and interest-only repayment. If a graduate makes twelve consecutive payments on time, the co-signer can be released from the original loan, meaning the graduate alone is responsible for the remaining balance.

Interest-only repayment allows a graduate meeting certain criteria to be able to make lower payments just on the interest for a period of up to four years. However, the principal and interest will accrue over that time period, and could become more costly.

CU Student Loans

CU Student Loans

Cu Loan Consolidation allows for a consolidation of $7500-$125,000 for undergraduates and $7500-$175,000 for graduates.


Wells Fargo loan consolidation also provides benefits of reducing loan payments to only one per month, and lowering the interest rates either by:

ñ  setting up automatic payment from a checking or savings account

ñ  if the graduate is already a Wells Fargo customer

Wells Fargo also provides the option of choosing whether the consolidation should be on a fixed interest rate or variable interest rate. Although fixed interest rates are usually cheaper, going with a variable interest rate when the market interest rates are at their lowest can lead to saving a lot of money, but the choice is left up to the graduate himself.

Wells Fargo allows for a consolidation of $5000-$100,000 in private student loan debt.


Cu Loan Consolidation is obviously a better choice, as they can consolidate a higher amount of loans, and provide more benefits for credit score rather an already being a member, like Wells Fargo. Wells Fargo also doesn't boast a cosigner release option, which lifts the burden from parents and/or grandparents from being responsible for the student's loans.