Consolidate student loans
with today's low consolidation interest rates and potentially save
money monthly. Locking in to a single loan with a low fixed interest
rate may reduce monthly payments. There are still lending companies
that specialize in consolidating student loans and their offers,
rates and benefits vary. We review them and present only the best on
this site. The latest company is consolidating private
student loans:

NEW:
EdSucceed Private Student Loan Consolidation
Those looking to consolidate their private student loans can explore a
brand new
loan consolidation option to combine existing private student loans with
EdSucceed Private student loan consolidation. Look in to
lowering your monthly payment.
Consolidating Student Loan Types
In 2012, from January through June, the United States Department
of Education is offering specific borrowers two consolidation
options.
This loan proposes different repayment benefits and terms to
borrowers that are not available with a Traditional Direct
Consolidation Loan. The application process for the Special
Direct Consolidation Loan is also different.
Traditional Direct Consolidation Loan
This loan assists the borrower by allowing the consolidation of
numerous federal student loans. This loan changes the payment
term, which means that the student will pay more interest over
the lifetime of the loan, the offered fixed rate is based on the
average of the loans being consolidated and rounded up to the
closest 1/8 of 1%, but not to exceed 8.25%.
Special Direct Consolidation Loan
This loan offers borrowers lower interest rates, eligibility for
credit forgiveness, an unchanged payment term and credit for
previously paid income-based repayment.
This short-term consolidation prospect is available to borrowers
who meet the criteria listed below.
1. One of the student’s loans is required to be a
commercially held FFEL (Federal Family Education Loan). This
refers to a loan that is held by an FFEL lender and is serviced
by contracted servicers or directly by the lender themselves.
1. One of the student’s loans must be held by the
Department. This denotes an FFEL or a Direct Loan that is owned
by the United States Department of Education. This loan has to
be serviced by a servicer at the Department.
Private Student Loans
These loans are unable to be merged with the federal student
loans. For the most part, these private loans will not compete
with one another on price.
The private student loan replaces several student loans with one
to eliminate multiple monthly payments. Another short-term
advantage is that the monthly payment may be reduced because the
duration of the loan is reset. The long-term affect is that the
interest that is paid over the lifetime of the loan will be
increased.
We've highlighted lender
resources that provide in-depth insight and facts about low
interest rates with benefits. Consolidating student loans doesn't
take long, but you should take your time when selecting a
consolidating lender. Compare the different lenders before
applying. NOTE: for all Federal loan consolidation, visit
loanconsolidation.ed.gov in to your browser - or call
1-800-4-FedAid
Some additional helpful student
loan consolidation links include:
-
http://www2.ed.gov/offices/OSFAP/DCS/consolidation.html
Lower your monthly student loan payments with
consolidation.
Private student loan consolidation services are often times used by
students after graduating in order to consolidate all of their
student loans under one payment plan. The benefits of using private
student loan consolidation services are fairly straightforward and
can include lowering your interest rate as well as paying a smaller
monthly bill if you find yourself unable to afford payments to
multiple lenders.
Consolidate
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