Loan limits and minimum balance requirements vary by lender. Some will allow borrowers to get a private consolidation loan for as little as $7,500 or $10,000. Others require a higher initial loan balance.
The loan limits may vary based on whether the borrower has an undergraduate or graduate degree. It may also depend on the borrower's credit scores. The loan limits may count federal education loans in addition to private student loans, even though the lender doesn't allow consolidation of federal education loans.
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