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

America's Top Student Loan Provider

Benefits Of Student Loan Consolidation
If you used any type of federally-funded student loans to finance your higher education, and are now out of school, by now you have received numerous telephone calls, mail pieces, and emails extolling the benefits of student loan consolidation. Let's go over what those benefits are:
  • A lower monthly payment- One major benefit of student loan consolidation is that consolidation results in lowering the monthly payment that you must make in order to keep your loans current. This is especially appealing to recent college graduates, who are just getting started in their careers, and also to those former students who were forced to terminate their education before they could finish their degrees. In these days of tight budgets, a strained US economy, scarcer job prospects, lower wages, and higher consumer prices for everything from food to gasoline and energy, a lower payment means more money to spend on other essentials and maybe even a small indulgence or two once in a while. The downside of having a lower payment is that it is usually created by stretching out the term of the loan over more months or years, making the total amount repaid considerably more.
  • Locking in a lower, fixed interest rate- This benefit has everything to do with whether your current loans have fixed or variable rates, and also the timing of your consolidation. Companies that aggressively pursue holders of student loans paint the picture of student loan consolidation protecting you against rising interest rates. If you are considering consolidation your loans, make sure that you do your homework regarding what interest rates are currently available, and whether your current loans have a fixed or a variable rate over the life of the loan.
  • Only one monthly payment- For those with multiple loans from various sources, consolidating your many and sundry loans into one will be a great convenience to you in that you will now have only one monthly student loan payment to make. Not only is having only one payment to make each month a great time and money saver, especially if you are writing checks rather than paying by automatic debit, but it will protect you against "forgetting about" one of your loans, and having it go delinquent.
  • If you have recently graduated or left school, you have what is called a six month "grace period". If you consolidate your student loans during the grace period, many times you can enjoy an even further reduction in interest. Some student loan consolidation lenders give you further reductions in your interest rate for using an automatic debit payment method, and for making a certain number of consecutive payments on time.
  • Some lenders penalize you for paying off your loans early. Consolidation of your student loans affords the extra benefit of enabling you to pay these loans off with no pre-payment penalty. As always, check the fine print of the agreement (and have somebody else look at it if you are not money-savvy) before you sign!


Article Title : Benefits Of Student Loan Consolidation
Comment not found for this article.

Related articles
• Student Loans for College - 10 Things You Should Know About Student Loans
• All Loans In One - Student Loan Consolidation
• Survive Extravagant Tuition Costs With a Low Interest College Student Loan
• Are Some Student Loans Better Than Others
• Am I Eligible For Student Loan Debt Consolidation

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!
Thank you EdFed, for keeping on top of things and for the one-on-one care!
- Eva R.  St. Louis, MO
* 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
One reason why borrowers fail to begin a federal loan consolidation application is that they are afraid they will not qualify. You need not worry; there are no credit checks or income verifications for our consolidation loans.
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 · 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