Loan Consolidation
Lower your monthly payments.
- Consolidating can extend how long you have to pay off student loans, sometimes up to 30 years. This can really reduce your monthly payments, even by as much as 50% or more.
Combine all your student loans.
- One company takes over all your loans so that you only have to deal with them and not lots of lenders. One bill, one monthly payment, easy...
See roughly how much your payments will be if you consolidate.
Here is what you need to do.
Do some homework:
Once you have consolidated your student loans, you can only consolidate again if you have an eligible student loan that was not included in your previous consolidation, or you received a new eligible loan that was disbursed after your loan consolidation.
| Qualifying Federal Student Loans for Consolidation: |
- Subsidized Federal Stafford Loans, formerly Guaranteed Student Loans (GSL)
- Unsubsidized and Non-subsidized Federal Stafford Loans
- Direct Subsidized Stafford Loans
- Direct Unsubsidized Stafford Loans
- Federal PLUS (Parent) Loans
- Direct PLUS Loans
- Federal Supplemental Loans for Students (formerly Auxiliary Loans to Assist Students (ALAS) and Student PLUS Loans)
- Federal Perkins Loans, formerly National Defense / National Direct Student Loans (NDSL)
- Subsidized Federal Consolidation Loans
- Unsubsidized Federal Consolidation Loans
- Direct Subsidized Consolidation Loans
- Direct Unsubsidized Consolidation Loan, including Direct PLUS Consolidation Loans
- Health Professions Student Loans, including Loans for Disadvantaged Students
- Health Education Assistance Loans
- Federal Insured Student Loans
- Federal Nursing Loans
Keep in mind that private loans are not eligible to be consolidated into a federal consolidation loan. However, some lenders will make private consolidation loans.
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