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

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Student Loan Consolidation
Loan consolidation is the channel through which you can bring all your loans under one single policy and reduce the monthly payments by increasing the duration of the loan. Consolidation has loads of benefits, some being:
  • Lower rate of interest
  • Locking in loans at a lower interest rate
  • Lower monthly payments
  • Worrying about just one loan instead of many
  • Longer repayment schedule
Bear in mind that we are talking specifically about student loans. There is consolidation available from other type of loans too, but at EdFed we deal with only your student loans.

The logic behind consolidation is simple. consolidation merges all your loans and bills into one single payment. It reduces your (the borrower's) monthly bill of loan repayment. In simpler terms, think of it this way: If you have to pay $100 in 5 years, you pay $20 every year (ignoring any interest component), and if you have to pay the same $100 in 10 years, you pay $10 every year. And in certain cases, the monthly payment burden gets reduced, and the loan payment period also doesn't get increased. This is what consolidation does; it reduces your monthly expenditure on loan repayment and gives you that extra cash in hand.

Now to tell you a little bit more about the Student Consolidation Program. If your loan is eligible to be consolidated under this program (see the list below) then you don't have to worry about variable interest rates anymore. Under the Student Consolidation Program, the interest rates are fixed based on many technicalities such as the amount of loan outstanding, the interest rate currently paid, etc. This rate of interest would be fixed throughout the life of your loan. So no more watching the interest rate markets for fluctuations that can hamper your lifestyle.

The list of loans that can be consolidated under the Student Consolidation Program:
  • Unsubsidized Federal Stafford Loans
  • Federal Parent Loans for Undergraduate Students (PLUS)
  • Federal Supplemental Loans for Students (SLS)
  • National Direct Student Loans (NDSL)
  • Health Professions Student Loans
  • Federal Perkins Loans
  • Subsidized Federal Stafford Loans
  • All Federal Direct Student Loans (Direct Loans)
  • Health Education Assistance Loans (HEAL)
  • Nursing Student Loans
  • Student Consolidation Loans
  • Federally Insured Student Loans (FISL)
  • Loan from the Department of Education
If your loan falls under any of the above, then loan consolidation is a realistic option for you.

Irrespective of whether you are still a student or you have graduated, you can consolidate with EdFed and ensure lower interest rates and better terms.

At EdFed, we reduce your loan burdens. We offer you the following terms:
  • Lock in low interest rates.
  • No credit checks, No fees - Absolutely Free!
  • Loan period extendable to up to 30 years
  • Lower monthly payments by nearly 50%
  • Complete confidentiality maintained
  • Free live pre-qualification by government-approved agents
  • It's a U.S. Government Program
  • And it takes just 60 Seconds to Qualify!

How EdFed Helped others!
Thank you, and I definitely will refer anyone that needs loan consolidation.
- Kristie B.  Los Angeles, CA
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Student Loan Consolidation Info - How to Choose the Right Loan Company

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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)

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Unconsolidated student loans typically have a loan term of 10 years, while consolidation loans can have terms up to 30 years.
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Comprehensive List of Schools at which EdFed Assists Students.
EdFed is a FFELP lender with lender identification number 834241.
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