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

America's Top Student Loan Provider

Let's Make the Deal
Consolidation can factor into your different repayment options. In order to consolidate your federal student loans, you must be in your six-month grace period or already repaying your loans. You have the right to consolidate a wide variety of college debts including:
  • Stafford loans (subsidized or unsubsidized)
  • Perkins loans
  • PLUS loans
  • Health Professions Student Loans (HPSL)
  • Health Education Assistance Loans (HEAL)
  • Nursing Student Loans (NSL)
  • National Direct Student Loans (NDSL)
  • SLS Loans (formerly ALAS Loans)
Loan consolidation should never be done on the fly, without some serious comparison shopping to make sure that you're getting the best terms and benefits from a lender. Ask what rebates, discounts, interest-rate reductions, and other perks a lender might offer you as a borrower prior to signing up with any institution. Before you consolidate with any lender, it's vitally important to make sure that consolidation is your best course of action. Consolidating loans can lower your monthly payments, but, as previously mentioned, it can also cause you to lose some benefits, such as deferment or forbearance privileges with Perkins loans.

Also remember that when you consolidate loans, the new interest rate you get won't necessarily be the lowest rate you currently have. Rather, any new consolidated loan you get will be a fixed, weighted average based on all the loans you consolidated. The interest rate will be rounded up to the next Vs percent from that weighted average, and capped at 8.25 percent by federal regulations. While you can't consolidate private loans through the federal loan consolidation, you can consolidate federal loans that are in any repayment plan—whether they're currently paid via the standard, extended, graduated or income contingent method. And when you consolidate any of these loans, your repayment plan will be anywhere from 10 to 30 years, depending on the amount of your debt.

If you're having difficulty with your payments, and you're in the process of consolidating loans, you can ask for your lender to temporarily stop your payments while your consolidation loan is being processed, giving you a little wiggle room financially.


Article Title : Let's Make the Deal
Comment not found for this article.

Related articles
• Consolidate Federal Student Loans And Save Money
• Federal Student Loans - Amazing Value For Students Who Need Financial Help
• I Need Assistance Paying Federal Student Loans
• Things You Need to Know About Federal Student Loans
• Private Student Loans VS Federal Student Loans

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!
Thanks to EdFed, I was not only able to lock in a low-interest rate, but also reduce it through their payment incentives, something that I was told by my current lender was impossible. The reduction in my interest rate saved me $32,825 in unnecessary interest.
- Jessica B.  Cleveland, OH
* 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
Federal loan consolidation can help ease your financial burden by lowering your monthly payments and helping you keep more cash in your pocket.
US School Directory
Comprehensive List of Schools at which EdFed Assists Students.
EdFed is a FFELP lender with lender identification number 834241.
© Copyright 2019 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