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If you have several student loans, you can convert them into a single Federal Consolidation Loan with one interest rate and repayment schedule. When a lender agrees to consolidate your loans, it will pay off the outstanding balance (including the remaining principal and interest) on your existing loans and make one Federal Consolidation Loan to replace them. The interest rate on a Consolidation Loan is the “weighted average” of the interest rates on the loans being consolidated. In the example, if the Stafford interest rate is 7.5% at the time of consolidation, the rate on the Consolidation Loan (including the 6% Perkins loan) would be 7.235%. Depending on the loan amount, Consolidation loans can be repaid over 10-30 years. This may be longer than the repayment period on your current loans. A longer repayment period means a lower monthly payment—but it also means that you’ll be paying more interest over the life of the loan, so your total repayment amount will be higher. If you’...

Student Loan Consolidation is a practical repayment tool that refinances your school loans into one loan, significantly reducing your monthly payment. Take a look at how much you can save each month with our student loan consolidation calculator. Federal Loan Consolidation Learn about federal student loan consolidation Consolidating your federal student loans can reduce your monthly payment up to 53%. You can eSign your application online and be finished in minutes. Private Loan Consolidation Learn about private student loan consolidation Our private student loan program offers interest rate reductions for on-time and automatic payments and there are no pre-payment penalties. Free Non-Student Loan Debt Consolidation Do you have more debt outside of student loans? Please request a free debt consultation today. Consolidate your debt into one lower payment, avoid bankruptcy, and be debt free in as little as 12-48 months. Get Started Now! How much can you save each month? I...

Has your lender sold your student loan or transferred it to a servicer? No problem. Lenders sell their student loans—and their car loans, home loans, and boat loans—all the time. However, as a borrower who must pay back a loan, you can save yourself a lot of confusion if you know these basic facts about lenders, secondary markets, servicers, and student loans: • Why do lenders sell their loans? For a variety of reasons, but usually to get cash in order to make more student loans. The loans are mainly sold to other lenders and organizations in a “secondary market” made up of state and private education organizations that specialize in buying and “servicing” student loans. • What is servicing? Some lenders and all secondary markets have contracts with student loan servicers, which are companies that take care of all the details—like collecting and processing payments, handling inquiries, and maintaining loan records—for them. Loan servicers “service” loans for many lenders and second...

With US Student Loans, the most popular revolve around Federal Student Loan programs, which is often the best option for most students to get through college. When you add up all your expenses like tuition, accommodation, books, travel, and entertainment (you have to live as well) you need all the help you can get. Here is an overview all all the different types of US student Loans on Offer to you - you may even want to get more then one loan at a time - but be careful not to over extend. There are several types of US Student Loans - Federally Funded Loans, Private US Student Loans, Student Consolidation Loans and International Student Loans. The Federal loans are a lot more flexible and have much better terms (lower interest rate) but private student loans are also worth looking at – as with some, you can defer payment until you finish your studies - a very useful option. Federal Student Loans These loans are available as part of a government loan program and will generally hav...

You may need a student loan if you can answer yes to any of the following questions. Are you ready to attend college, but have no real idea how you would finance it? Do you work and make more money than allowed for a federal grant? If these apply to you, it may be necessary to obtain a student loan . Determining if you need a student loan is quite simple. No matter if, this is your first time in college or you are returning to obtain a higher degree or even finish a degree, then you should consider a student loan . What is great about student loans is that unlike other loans, you do not have to pay this one back until six months after you have graduated or finished college. This will allow you many opportunities to obtain your dream job, giving you the income to pay the student loan back, when the payments begin. So, how can you tell if you are going to need to get a student loan ? One reason you might is if the college of your choice is a very expensive one, not that any college is ...