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Consolidate Federal Student Loans
Do you have a high interested student loan? You can substantially reduce your student loan debt by consolidation , with
today's low interest rates, student loan consolidation can save you big money. This is really just refinancing one or a group of federal student loans, at a lower interest rate - just as refinancing a mortgage loan at a lower
interest rate would reduce monthly payments and the total amount paid.
Reduce your monthly student loan payments by 50%.
Now is the time for student borrowers to consolidate their outstanding student loans. Student loan consolidation not only helps students lock in a lower interest rate, it also has many incentive features.
- No fees, charges or prepayment penalties
- Lock in rates as low as 4.5%
- All federal loans bundled into one easy-to-manage loan
There are two basic kinds of school loans - private and federal. Federal school loans are almost always at a much lower interest rate than you could get for an unsecured private school loan. Because of the nature of the federal loans, you should never consolidate both private and federal loans into a single private loan. Because only federal loans carry government backing, they can be refinanced at a much lower interest rate than can privately financed school loans. So when you come to consolidate school loans, do the federal loans together then look at consolidating your private student loans.
References and Links
1. Student Loan Consolidation - General information and eligibility information for student loan consolidation, with lenders and other student loan companies
2. Consolidate Federal Student Loans - Details on federal student and school loans, with resources and student loan comapny lists for consolidating your federal student loans.
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