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

America's Top Student Loan Provider

Federal Student Loan Consolidation - It Pays To Start Your Student Loan Repayments Fast!
If that is what it takes to improve your life, you should be proud you did it. Fortunately for all of us stuck with student loan debt there are federal student loan consolidation programs that can cut your student loan payments in half.

These programs will combine multiple loans into one loan which not only will save you money but it cuts out the hassle of multiple payment to multiple lenders.

Student Loan Consolidation Backed By Federal Government

Federal student loan consolidation is backed by the federal government and allows you to extend your repayment terms. If you have Stafford loans, you have a variable interest rate that adjusts annually. When you opt to consolidate, you get the choice to lock in at a low rate and there are many offers out there that will charge you no fees.

They want your business and you should shop around. There are many competing financial institutions that are competing for your money and that puts you in the drivers seat. You want to insist on the best possible deal on the market.

Consolidation Loans Federal Providers

Sallie Mae is a government institution that offers a 'Best Rate Promise.' They guarantee you that they will give you the 'lowest official student loan rates available to you' when you consolidate. If you have just graduated and your loans carry a variable rate you want to consolidate before your six month grace period ends.

If you consolidate your loans before the end of the six month grace period ends, many of you can lock in 6.625% or 6.75% interest rates. If you put it off until after the grace period your rate will be more like 7.125% to 7.25%.These rates vary, so check them out carefully before you buy.

Consolidated Federal Loan Downsides

Federal student loan consolidation does have a downside. When you consolidate your loans, it lowers your payment by extending the amount of time you have to pay off the loan. With federal student loan consolidation you get to choose if you want a standard repayment in which your monthly payment for the life of the loan is fixed.

If you opt for graduated repayment your payments start low and increase at intervals specified by the lender. There is also an income sensitive repayment in which your payment is determined by your income. This type of consolidation will increase as your income increases.

Watch Out For Minimum Payment Schedules

No matter what type of loan you choose the federal rules governing student loans set a minimum payment of fifty dollars. These rules are relaxed for the income sensitive repayment option. The most popular choice is the standard repayment. The payment always stays the same.

If you choose any loan beside the standard repayment, it does not mean you are locked in. You do have the option of changing your mind and applying for one of the other types of loans. The option may still be open but it depends on the terms of your loan.

You can always contact your lender for a full review of your options.


Article Title : Federal Student Loan Consolidation - It Pays To Start Your Student Loan Repayments Fast!
Comment not found for this article.

Related articles
• Facts About Student Loan Consolidation
• Consolidation of Student Loans - Part 1
• Federal Student Loan Program - What Is It
• Finding The Right College Student Loan
• Consider Federal Student Loan 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!
The service I received from EdFed was unbeatable in comparison to other lenders. They were highly trained and very friendly. I felt confident that they could help me, and they did. I saved $23,261 on my federal loans. Thank you EdFed.
- Jake K.  Omaha, NE
* 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 income-sensitive repayment option provides for payments to be adjusted annually based on your expected total monthly gross income from employment and all other sources.
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