La Jolla, CA – April 1, 2015

Are you paying student loans to National Collegiate Student Loan Trust (NCT), EduCap, Navient, AES, Teri Loan Holdings, LLC, Enterprise Recovery Systems, Inc., or NCO? If so, you likely incurred private student loan debt.

Private student loans aren’t afforded the same benefits as federal student loans. Post-graduate deferments on private student loans are virtually non-existent. Interest rates range from 6% to 12%. Repayment plans based on your income aren’t an option. Many borrowers struggle to make their monthly payments on these loans. For those that are making the payments on time, but find little to nothing left at the end of the month, their may be an exciting solution to free up some money.

First Republic Bank is offering an exciting new solution for private student loans. Their Eagle Gold All-in-One fixed-rate loan provides a refinancing of your private student loans with attractive fixed-rate and term options that will lead many borrowers to enjoying huge savings on a monthly basis.

First Republic is offering this loan product for individuals with loan balances ranging from $60,000 to $150,000. There are no origination fees, annual fees or prepayment fees. Interest rates will range from 2.45% to 4.00%, depending on the term of the refinance loan. If your current private student loan interest rate is 6.95%, you could realize interest savings of $12,000 to $28,000 over the life of the loan. I have seen a large number of private student loans with interest rates of 8% to 10%. For those loans, the overall savings increases dramatically. These loans are subject to First Republic’s underwriting standards, which are best explained by a bank representative.

This refinance loan is a great option, but it may not be for everyone. If you are in default on your private student loans, you probably won’t qualify for a refinance. If this sounds like your situation, you may want to consider consulting with my firm to discuss the possibility of negotiating a settlement of your private student loans. Depending on your financial situation and total debt owed, it may be possible to negotiate a reduction of your private student loans. I have been successful in negotiating for reductions with payment terms up to 84 months to repay. Results vary based on individual circumstances, but it’s worth it to explore the debt settlement option for your private student loans.

Private student loans continue to remain a hot topic and growing burden on consumers. You owe it to yourself to get educated on your options so you can make informed decisions that will affect you for years to come. If you have private student loans that are burdening your monthly budget, I invite you to call the Gamez Law Firm to discuss your options. The initial consultation is free and you will leave knowing your options so you can develop a plan to live a life free of debt.

Daniel R. Gamez, an attorney focusing exclusively in debt settlement, is licensed to practice in all state and federal courts in California and Texas. Mr. Gamez owns and operates the Gamez Law Firm in La Jolla, CA. For more information, please contact Daniel Gamez at 858-217-5051, or visit