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:

1. 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 Student Loans Home - Federal Stafford - Private - Lenders