Student loan consolidation is now made much simpler with Edfed. Lock in rates and begin your savings.
Federal loan consolidation process is simple:
1. You can apply in minutes!
Applying online does not take time with online application and e-signature capabilities. You may also call us at (800) 821-5659. Our expert will assist you in completing the application.
2. Set your interest rate
The weighted average of all the loans you are consolidating is calculated, which results in a fixed rate which is as low as 6.75%.
3. Receive borrower benefits
Recent graduates consolidating while in their grace period, (normally within six months of leaving school), receive a .60% Interest Rate Reduction, which could take your interest rate to as low as 6.75%.
4. Begin processing of consolidation loan
Upon receipt of your completed and signed application we will begin processing your consolidation loan. We will contact the lenders currently holding your existing loans and request your payoff information. You must continue making your monthly payments until you receive your EdFed consolidation loan.
5. Begin repayment
You will be notified by servicer once your loan is complete. Your new payments will begin approximately 30 days from the date your consolidation is complete.
6. Need help?
Feel free to contact EdFed with any questions, at (800) 821-5659.
For any questions about the federal loan consolidation process, email us or call (800) 821-5659.
How EdFed Helped others!
As a medical student, I have accrued a substantial amount of student debt. It's extremely important to have a reputable company handling my loans. That's why I chose EdFed to handle my loan consolidation. I locked in a low fixed interest rate, and will be able to save over $70,000 in interest through their borrower benefits. Thank you for helping me manage the burden of my student loans. - Aida P. Portland, OR
