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!

I just finished up school and finances are a little tight for me right now. EdFed consolidated my loans and saved me over $200 on monthly payments. Now I have more money to put into opening up my own business and beginning a successful future. I would definitely recommend EdFed to any student looking to save money, get lower interest rates and get great customer service while doing it.
- Trent T. Omaha, NE

* Your Name:		* Your E-mail Address:
		We respect your privacy.

* Your Friend's name:		* Your Friend's E-mail address:






Include a Message:


		+ Privacy Policy

Find student loans

Are you a parent or student?
What college will you be attending?
When will you graduate?
Amount of loan needed?
What is your email address? Receive student loan info. & news
Home zip code

call:

(800) 821-5659

CONSOLIDATION NEWS

	Schools Will No Longer Receive Paper FAFSA Forms (September 20, 2007)
news desk

CALCULATORS


			Stafford Loan Payment Calculator
			PLUS Loan Payment Calculator
			Loan Consolidation Payment Calculator



	Eligibility
	Borrower Benefits
	The Process
	The Payment options
	Tax Benefits
	Deferment
	Forbearance
	FAQ
	Payment Calculator


		There are absolutely no fees for a federal consolidation loan.

Comprehensive List of Schools at which EdFed Assists Students.


		EdFed is a FFELP lender with lender identification number 834241. © Copyright 2012 EdFed. All Rights Reserved. Home · About Us · Contact Us · News · Sitemap Career Advice · Tell a Friend · Privacy Policy · Resume Service Resume Distribution Service · Post Resume · Job Search Course

EDFED NEWSLETTERS

Email Address:

+ Most Recent Newsletter

+ Newsletter Archives