Federal Loan Consolidation Process, Federal Direct Consolidation Loan Borrowing Process

America's Top Student Loan Provider

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!

The bottom line is EdFed saved me thousands of dollars on my federal student loans. I had already consolidated most of my federal loans through another company, and I thought I was done. I didn't realize I needed to do another consolidation until my Loan Specialist at EdFed explained my interest rates and their borrower benefits. I knew I couldn't go wrong by choosing EdFed. Their payment incentives will save me over $30,000 on my federal student loans. Thank you EdFed.
- Mark W. San Antonio, TX

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Education is one of the most basic right of any human, but with the increase in prices and the costs involved in education this has made these rights turn into a privilege which very few can enjoy. Any normal person today in the whole of United States has to take an education loan at one point of time to pay for their education fees.

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CONSOLIDATION NEWS

	Schools Will No Longer Receive Paper FAFSA Forms (September 20, 2007)
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		With EdFed, you can even sign your consolidation application online using our secure E-Signature process.

Comprehensive List of Schools at which EdFed Assists Students.


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