College Loan Consolidation, Federal Loan Consolidation, Private Loan Consolidation, Student Loan Consolidation

America's Top Student Loan Provider

Student Loan Deadline Has EdFed Working Around The Clock

EdFed, a leading consolidation company, urges students to consolidate their loans before the interest rate increase on July 1.

Because EdFed understands the timeliness and importance of consolidation, our staff of loan specialists is working around the clock—24 hours a day, seven days a week--in order to address concerns, research a student's or graduate's loan history, estimate projected interest rates and savings, and help students and graduates decide whether consolidation is the right choice for them.

EdFed knows that these interest rate hikes will have severe repercussions, including higher levels of debts, for millions of student and graduate borrowers.

EdFed CEO Harrison Barnes said, "In the long run, higher debt may affect a student's or graduate's options regarding a mortgage, credit cards, and parenthood. Simple things like raising children or buying a house may just seem too expensive. Increased financial burdens may keep them from pursuing their dreams and desires."

Barnes continued, "Borrowers must consolidate now, before the July 1 deadline, if they're going to avoid these interest rates."

Due to the passage of the Deficit Reduction Act, which President Bush signed into law in February 2006, funding for student-loan programs will undergo a $12.7 billion cut over the next five years. In an attempt to reduce the federal deficit, Congress is set to increase student loan interest rates by around 2 percent on July 1.

Borrowers who choose to consolidate can lock in a low interest rate for the life of their loans; and EdFed offers an additional 1.25 percent interest rate reduction, giving students and graduates the ability to lock in rates as low as 3.5 percent. This will reduce monthly payments by 60 percent and save thousands of dollars over the life of the student loan.

At EdFed, we are devoted to assisting students in paying for school and managing education debt. Our consolidation services decrease students' monthly and lifetime payment amounts, leaving them financially independent to pursue their dreams.

Additionally, since consolidation converts multiple federal student loans into one loan, it offers many other attractive financing options. Those who consolidate only have to make one single monthly payment and can access a variety of alternative repayment plans that range from 10 to 30 years, including an extended repayment plan for students undergoing financial difficulty.

EdFed allows students and graduates to consolidate student loans that originated under the Federal Family Education Loan Program (FFELP). Because we realize the complexity and burdensome nature of handling student loans, we aim to simplify your loans while presenting you with every money-saving opportunity available. Applying for consolidation through EdFed is easy, convenient, and fast. In fewer than 10 minutes, you can apply via phone with one of their customer service representatives or via internet through their online application.

Current students and graduates are eligible for loan consolidation. For more information regarding student loan consolidation, please contact an EdFed loan specialist by emailing, calling (800) 821-5659, or using the "Live Chat" option at

Media Contact:
Carleen Trapp

How EdFed Helped others!
EdFed helped me out a lot! My student loan balance was not as high as most of my friends, so I didn't even know if consolidating would be worth my time. The loan counselors at EdFed really explained the benefits of consolidating and took the time to do a comparison of my total loan costs with and without consolidating. Even though my loan balance was not large, my monthly payments were reduced by almost 50% through my EdFed loan consolidation! This provided a lot of relief. Now, I know I can make my student loan payments, and I still have plenty of money to do the things I want to. Thank you, EdFed, for walking me through this process.
- Rochelle G.  Chicago, IL
* 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
(800) 821-5659

Student Loan Consolidation Info - How to Choose the Right Loan Company

This column is sponsored by Granted, America's top job search engine. The Career Resources column is presented by Granted, America's leading job search engine dedicated to getting people jobs.

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.

read more
Schools Will No Longer Receive Paper FAFSA Forms
(September 20, 2007)

news desk
Stafford Loan Payment Calculator
PLUS Loan Payment Calculator
Loan Consolidation Payment Calculator
Glossary of Terms
Loan Comparison Chart
Scholarship Search
There is now a mad dash to consolidate. Everyone wants to reduce their new, higher interest rates--be sure to get in your application now to ensure timely processing.
US School Directory
Comprehensive List of Schools at which EdFed Assists Students.
EdFed is a FFELP lender with lender identification number 834241.
© Copyright 2020 EdFed. All Rights Reserved.

Home · About Us · Contact Us · NewsSitemap
Career Advice · Tell a Friend · Privacy Policy · Resume Service
Resume Distribution Service · Post Resume · Job Search Course
Sign up for the latest news on student loans.
Email Address:
+ Most Recent Newsletter
+ Newsletter Archives