Why Consolidate?

Student loans consolidation offers various benefits. The rate of interest is lower than all your consolidation loans and thus you pay lower monthly payments. The interest rates are locked, therefore it is shielded from the inflation rates. The loans have a flexible repayment options and no fees, charges or penalties. Also there are no credit checks and co-signers required.

Your monthly payments could be lowered by around 54%. You typically have 10 years to repay your loans, but in student loans consolidation your tenure can be extended to up to 30 years.

You will have to be eligible to get the student federal loan consolidation. Some criteria to be fulfilled are, you must be in the six ��"month grace period after completing studies, after which the repayments start. The other case is that you have started paying the installments already. Then, your total loans outstanding must be at least $7500. You have taken loan from different lenders and you can consolidate your loan just once.

Which Loans Are Eligible:

There are also certain loans that can be consolidated under the student loans consolidation programs:

  Federal Subsidized And Unsubsidized Stafford Loans

  Direct Subsidized And Unsubsidized Loans

  Direct and Federal PLUS Loans

  Federal Consolidation Loans

  Guaranteed Student Loans

  Federal Insured Student Loans (FISL)

  Federal Perkin Loans

  Federal Supplemental Loans For Students

  Auxiliary Loans To Assist Students

  National Direct Student Loans(NDSL)

  Health Education Assistance Loans

  National Defence Student Loans

  Loans For Disadvantaged Students

  Nursing Student Loans(NSL)