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!
I was actually considering filing for bankruptcy because of the extreme debt I had incurred in veterinarian school EdFed was able to reduce my debt by $40,362. Edfed saved my finances and for that, I thank them.
- Brad O Colorado Springs, CO