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School Loan Consolidation
How do we define school loan consolidation?
Everyone describes the act of consolidating school loans slightly differently. Some say consolidation cuts your monthly payments. Others prefer the interest rate decrease after 36 months more useful. Finally, others enjoy only paying one bill each month.
Regardless of your preference, school loan consolidation encompasses all of the above - and can almost certainly assist you with either multiple federal loans or private loans.
Looking at federal loan consolidation, this is a fixed-rate refinancing program that combines all your existing federal loans into one new loan. Examples of potential loans you can consolidate include Stafford, Parent PLUS, Perkins, and Direct. In terms of saving money, school loan consolidation can lower monthly payments up to 53%. Alternatively, private student loan consolidation is a separate program for refinancing all non-federal school related debt. This method of consolidation offers the convenience of a single, lower monthly payment for an individual's private loans.
Interested in a video tutorial on how school loan consolidation works?
Why consolidate your school loans with us?
Our loan counselors will help you understand the benefits of school loan consolidation, and can work with you to determine if consolidating is the right choice. We will explain the consolidation process, the different available repayment options, and all of the federal and private benefits that are a part of your consolidation. Most importantly, we will be at your disposal throughout the entire loan consolidation process - from start to finish.
Additional benefits
School loan consolidation can significantly reduce your monthly payment burden. It also allows you to stretch your repayment period from the standard 10 years to up to 30 years, depending on the amount of educational debt. This lower payment means you'll have more money available to meet other household expenses. Read more benefits of school loan consolidation.
Apply now - request a free information packet and application!
Frequently Asked Questions about Student Loan Consolidation
