Student Loan Consolidation

A Student Loan Consolidation allows borrowers to combine all of their federal student loans into one new loan with one lender. Sending two, three, or even four separate payments to different lenders and trying to track your loan balances, interest rates, and due dates can be quite cumbersome. The consolidated student loan will be much easier to manage and keep track of. There are many other benefits to the federal Student Loan Consolidation program as well.

Flexible Repayment Options

By consolidating your loans, you are able to choose what type of repayment plan works for you. You are not longer in the hands of your lender forcing you to make payments based on your loan size. The Student Loan Consolidation offers you five payment options:
  • Standard Repayment
  • Graduated Repayment
  • Income Contingent Repayment
  • Income Based Repayment
  • Pay-As-You-Earn Repayment
If you would like to know what your new payment would be in your consolidated loan, complete this form for instant repayment results. Additional information on the student loan consolidation repayment options can be found here.

Student Loan Forgiveness Aspects

By consolidating your loans into the Direct Loan program, you open doors to student loan forgiveness programs that may not have been available to you otherwise. Every consolidated loan will be forgiven at the end of 25 years if a balance is remaining. This means you could be in an income based payment paying less than what you would normally pay in the standard repayment, and after 25 years the balance is forgiven. To qualify for Public Service Loan Forgiveness, you must have Direct Loans. Consolidating into the Direct Loan program will make you eligible for Public Service Loan Forgiveness if you meet the other criteria of the program. Teacher Loan Forgiveness is also available to borrowers with Direct Loans, consolidating may make you eligible if you meet the other criteria of the Teacher Loan Forgiveness program.

No Min or Max Loan Amounts

There is no minimum or maximum amount of federal student loans that can be consolidated into the program.

No Change In Interest Rate

Interest in the student loan consolidation program will be a weighted average of all your current interest rates. This means your rates will stay virtually identical, but instead of having different rates with different lenders, you will now only have one that has been averaged out.

Get Out Of Default

Consolidating your federal student loans will get any defaulted loans out of default in 60-90 days with no rehabilitation necessary. You must simply enter into an income based or income contingent repayment option.



August 23, 2014

University education is very costly and every year, that cost is increasing even more rapidly than inflation. In school year 2013-2014, the College Board posted that the cost of undergraduate tuition and fees at private institutions was pegged at $30,094. Public colleges and universities charged state residents roughly $8,893 while out-of-state students had to pay an average of $22,203.



August 23, 2014

Due to the cost of higher education in the US it’s no wonder why a lot of people turn to student loans for help. While this debt may be helpful for them to finish college, sometimes it is the same burden that leads the students drop out.Josh Brooks, for instance, was a student studying at Valencia College in Orlando, Florida in 2006.



August 23, 2014

Loan consolidation is rapidly becoming a top choice for university graduates who are looking for more affordable ways to repay their student loan. With overwhelming amount of student loan, students and graduates are scouring for much needed help. Student loan relief companies, such as Debt.org, offer these debtors some help.


Refinancing: A Way to Relieve your Payment of Student Loan Debt

August 23, 2014

When you think about it, you get to enjoy more of your hard earned cash if you choose to settle your student loan debt through refinancing. It is a sure fire way to lessen your monthly debts, but only a handful of financial institutions offer this kind of service.


There are no obligations or commitments. YOUR ASSESSMENT IS ABSOLUTELY FREE
Call (866) 881-2741 today to go over your options.