Depending on the total amount of your student loans, the repayment term can be 10 to 30 years.
Loan payment options for loan consolidation:
Equal Payments
Equal monthly payments over the term of the loan.
Select 2/Graduated Payments
You make interest-only payments first two years of repayment. Payments increase to level installments of principal and interest payments for the remaining term of the loan, in the third year.
Select 5/Graduated Payments
You make interest-only payments first two years of repayment. In the third through fifth years, payments increase to include a portion of principal. In the sixth year, payments increase to level investments of principal and interest payments for the remaining term of the loan.
Income-Sensitive Payments
Payments can also be adjusted annually based on your expected total monthly gross income from employment and all other sources. Once eligibility is determined by your servicer your new payment will also be calculated.
Extended Equal Payments1
Allows up to a 25-year repayment term of Equal Payments.
Extended Select 2 Payments1
Allows up to a 25-year repayment term with the Select 2/Graduated Payment plan.
Extended Select 5 Payments1
Allows up to a 25-year repayment term with the Select 5/Graduated Payment plan.
For any queries about the federal loan consolidation process, please email us or call (800) 821-5659. Our expert loan advisor will be able to guide you.
1. All Extended Repayment Plans are for qualified borrowers with more than $30,000 in eligible loans. Applicants interested in any of the Extended Repayment Plans should contact our loan advisors to determine eligibility.
How EdFed Helped others!
The first time I called in I spoke with a loan consultant immediately. The representative that I spoke with was knowledgeable and able to answer all of my questions. He took me through each step of the application and explained all of the details. He was extremely friendly and I thank him deeply for helping me through the consolidation process. - Greg M. , NC
