In their attempt to consolidate their student loans, many students and graduates are spending valuable time on hold with lenders and waiting weeks for returned paperwork.
Fortunately, EdFed's clients are not among these. Because of EdFed's unique E-Signature process, borrowers can fully complete an online application for student loan consolidation in as little as one hour.
If a borrower prefers to print out a paper application and physically sign the document, EdFed will send a next-day FedEx label so the application can be completed and received within 24 hours.
Consolidating is very important, especially because it saves borrower's thousands of dollars over the life of their education loans.
Graduate students who carry higher loan balances can expect to lose amounts ranging from $10,000 to $50,000 or more.
Consolidation combines all of a borrower's student loans into one loan with a low, fixed interest rate. All it takes is a quick and simple phone call to EdFed's loan specialists at 800.821.5659.
Once a borrower is connected with a loan specialist, the application can be completed over the phone in around 10 minutes. EdFed's clients can then choose to E-Sign an electronic application online; these customers can complete their consolidation applications in less than one hour and never worry about their student loans again.
Customers who prefer a pen-and-paper signature process will be emailed a completed copy of their applications to print and sign. They will also be emailed a printable FedEx label for overnight delivery of their applications.
The timeline for disbursement of a consolidation loan can range between one week and two months, depending on how cooperative the original lender is. EdFed's loan specialists follow up with these companies on a daily basis to ensure timely disbursement of all loans.