Notice: Undefined index: articledetail in /home/utils/securefiles/securecode/utl_article.cls.php on line 649
Private Student Loans and Consolidation |
College Loan Consolidation, Federal Loan Consolidation, Private Loan Consolidation, Student Loan Consolidation

America's Top Student Loan Provider

Private Student Loans and Consolidation

It is no lie that going to college is an expensive adventure. Between tuition, fees, housing, food, cell phone bills, insurance and car payments, your expenses can really add up. And unless you are lucky enough to have the money to pay for those expenses, you will probably be paying for school with student loans. Federal loans can be easy to obtain, but what do you do when you need more money than the limits on federal loans can provide? That is where private loans come into play.

You can receive a private student loan from a number of lending companies who have a variety of interest rates and benefits, so make be sure to shop around before settling on a loan provider.

Bad Credit? You May Still be able to Receive Funding through Private Loans

One common misconception of private loans is that if you have a bad credit rating then there is no chance that you will be able to receive any kind of funding from private loans. Once in awhile, this is the situation, but there are still many companies who will offer you student loans. Instead of denying you altogether, some companies will offer you lower limits, or have higher fees and interest rates attached to your loans, but at least you will still be able to fund your schooling.

Another way to increase your chances of obtaining private loans with less-than-perfect credit is to get a cosigner to sign on the loan with you. This may help you to avoid some of the excess costs involved with higher interest rates and fees. By adding a cosigner to your private loan, he or she is basically stating that they take responsibility for the loan should you become financially incapable of doing so. The lending company will then base your interest rate and fees off of the interest rate of your co-signer.

Consolidating Your Private Student Loans Through EdFed

Chances are that if you are able to receive funding from private loans, you have more than one. Wouldn't it be great to be able to combine these loans in to a single loan, with only one monthly payment? EdFed can do all of that for you, in addition to saving you thousands of dollars off of your loans! With a private student loan consolidation with EdFed, your multiple loans will become a single loan.

When you consolidate your private student loans with us, we offer you a low, variable, interest rate and an immediate 0.25% interest rate reduction when you chose to enroll in our automated debit payment program. In addition to that, that we offer several repayment options that can help you lower your monthly payment by almost half! Also, there are no prepayments penalties, so you can pay off your loan balance as early as you choose. All of these benefits will help you save thousands of dollars over the life of your loan!

Consolidating through EdFed can also improve your credit rating and help your financial status, which will help you to be approved for loans you may take out in the future!

Add a Co-Signer To Save Even More

To save even more, you may enlist a cosigner to help you to lower the interest on your consolidation by lowering your already-low interest rate by an additional 0.75%! Once you qualify for our private student consolidation loan on your own, you have this option to save!

Give Us a Call Today

EdFed prides itself not only on our ability to help our customers save money, but also on our industry leading customer service. When you call EdFed, a professional consolidation representative will be on the other end, ready to answer any of your questions. EdFed is the perfect complement to your education experience.


Article Title : Private Student Loans and Consolidation
Comment not found for this article.

Share this story:
  • BlinkList
  • blogmarks
  • Digg
  • Facebook
  • Google
  • Sphinn
  • MySpace
  • NewsVine
  • Simpy
  • StumbleUpon
  • Technorati
  • E-mail this story to a friend!
  • Print this article!
  • Faves
  • Furl
  • Netvouz
  • Slashdot
  • Spurl
  • Yahoo! Buzz

EdFed introduces… Awareness… Learnal
At, EdFed, we proudly introduce 'articles on student loans' and 'Learnal - the journal to learn from', our free newsletter on student loan management, which is sure to keep you informed of the latest events and happenings in the student loan market. To receive your copy of the above just use the RSS feed below and add this to your "My Yahoo", blogs, newstickers, and other similar channels accepting distributable content.
Click here to sign up for our Weekly Newswire now!

How EdFed Helped others!
I had been interested in consolidating my student loans for a while when I was contacted by a loan representative from EdFed. She was able to tell me what my interest rate would be and how much I would save. She explained everything in detail and I recommend calling to see what they can do for you.
- Sean R.  Colorado Springs, CO
* 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

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
Our Extended Equal Payments option allows up to a 25-year repayment term of equal payments.
US School Directory
Comprehensive List of Schools at which EdFed Assists Students.
EdFed is a FFELP lender with lender identification number 834241.
© Copyright 2021 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
Sign up for the latest news on student loans.
Email Address:
+ Most Recent Newsletter
+ Newsletter Archives