Student Loan Consolidations

* Current and Former Students! *

Consolidate one or more college student loans and lower your rate

 

This Low interest rate student loan consolidations can save you tens of thousands of dollars over the life of your loans, and it may even allow you to demand
a much lower monthly demand
ment as well! 

If you haven't consolidated yet, consider doing so soon, as Free Student Loan Consolidation  is one of the easiest and simplest ways to reduce large interest demand
ments over the course of your student loan redemand
ment.

In addition, interest rates are at 80 year lows. Lock in student loan consolidations while rates are still low!

Learn how you can easily consolidate one or more college student loans and lower your loans interest rate.

 

 

Listed below are the types of college loans that may be consolidated:

 

Direct Stafford/Ford Loans (subsidized and unsubsidized)

FFEL Stafford Loans (subsidized and unsubsidized)

Direct and Federal PLUS Loans

Guaranteed Student Loans (GSL)

Federal Insured Student Loans [FISL]

Federal Supplemental Loans for Students (SLS)

Auxiliary Loans to Assist Students (ALAS)

Federal Perkins Loans

National Direct/Defense Student Loans (NDSL)

Health Professions Student Loans (HPSL)

Health Education Assistance Loans (HEAL)

Loans for Disadvantaged Students (LDS)

Nursing student loans

Direct and Federal Consolidation Loans

 

 

Free Student Loan Consolidation

You can consolidate your loans at any time--while you're still in school, during your six-month grace period, or after you begin redemand
ment. If you consolidate while you're in school, you'll receive a grace period on your consolidation loan. Note that you can consolidate only Direct Loans and FFELs while you're in school; the other types of loans listed in this section may be consolidated only after you leave school.

If you want to consolidate while you're in school and you're attending a Direct Loan school, you must have at least one fully disbursed Direct Loan or FFEL in an "in-school" period. If you're attending a non-Direct Loan school, you must have a Direct Loan, and you must have either a Direct Loan or FFEL in an "in-school" period. An "in-school" period is the period before a loan enters the grace period and while the borrower is enrolled at least half time at an eligible school.

Note: If you want to consolidate during your grace period, wait to apply until two months before the grace period ends. Redemand
ment on consolidation loans begins within 60 days of the first loan disbursement, which means your grace period will be cut short if you apply too early.

If you have only FFEL Program loans, once you leave school you can consolidate them under Direct Loans only if you can't get an FFEL consolidation loan, or you can't get one with income-sensitive redemand
ment terms acceptable to you.

Similar conditions apply to parents. They must have an outstanding balance on a Direct PLUS Loan or a Federal PLUS Loan (under the FFEL Program). Parents must not have an adverse credit history or, if so, must either document extenuating circumstances or obtain an endorser for the loan who has no adverse credit history. You may not be an endorser for your parent.

Even defaulted loans may be consolidated if you agree either to redemand
your Direct Consolidation Loan under the Income Contingent Redemand
ment Plan or make satisfactory redemand
ment arrangements (for consolidation purposes, defined as three consecTech Schoolve, voluntary, on time, full monthly demand
ments).

Note: A married couple may consolidate their loans jointly if at least one spouse meets the requirements for loan consolidation. Both will be responsible for redemand
ment of the loan, even if one spouse dies or they separate or divorce.

 

This rate can save you tens of thousands of dollars over the life of your loan. If you haven't consolidated yet, consider doing so soon, as Free Student Loan Consolidation appears one of the easiest and simplest ways to reduce large interest demand
ments over the course of your student loan redemand
ment.

If you have student loans other than Direct Student Loans, you may want to apply for a Direct Consolidation Loan.

 

Consolidation means making only one monthly demand
ment to cover all your student loans. There may be several advantages for you if you consolidate your student loans. Because the interest rate will be the same as for Direct Loans, you may be able to demand
less interest than you're demand
on your current student loans. You may be able to reduce your monthly demand
ments to as low as 2.25%. You can also choose the redemand
ment plan that best suits your financial circumstances. 

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