STUDENT LOAN CONSOLIDATIONS

Consolidating your existing, individual student loans into a single consolidated student loan enables you to simplify the repayment process and may reduce the overall monthly payment amount. A student loan consolidation loan simplifies the loan process by combining several individual student loans (that may have different terms and repayment schedules or may have been made by different lenders) into one new loan.

• Student loans that are consolidated into a new student loan consolidation loan are paid off, and a new loan (the consolidation loan) is created.
• The overall interest rate on the new consolidation loan may be lower than on one or more of the underlying loans.
• The amount of time to repay the consolidation loan may be extended beyond what was available in the separate loan programs.
• These features may result in more manageable student loan debt and should make borrowers less prone to default.

While federal student loans and private student loans can be consolidated to generate the benefits as mentioned above, please note that most lenders do not allow for both federal and private student loans to be combined into a single student loan consolidation loan.

For federal student loans in a grace, deferment or repayment status, the following types of loans are eligible for federal loan consolidation:

• Federal and Federal Direct Stafford Loan (subsidized and unsubsidized)
• Federal and Federal Direct PLUS (in borrower's name only)
• Federal Perkins (formerly known as National Direct Student Loan or NDSL)
• Nursing School Loan (NSL)
• Health Professional Student Loan (HPSL)
• SLS (Supplement Loan for Students)
• Loans for Disadvantage Students (LDS)
• Federal Insured Student Loan (FISL)
• Federal Consolidation Loan
• Federal Direct Consolidation Loan

Federal Student Loan Programs, Applications, and Information

Valuable information about government financial aid and federal student loan consolidation is just a few clicks away. Looking for federal student loan information and access to lenders to provide the funds you need? You’ve come to the right place. No matter where you live or where your college, university or trade school is located in the United States, Studentloans.com can help simplify the process of finding a lender to secure the funds you need for education – saving you time, money and resources. Whether you’re interested in finding a lender to apply for a Stafford Student Loan, Parent PLUS Student Loan , or GradPLUS Student Loan, we’re your dependable resource for financial aid from the government.

Click here for information about Private Student Loans, an Alternative to Federal Financial Aid.

STUDENTS - HAVE YOU COMPLETED YOUR FAFSA? Your award package is based on information you submit on your Free Application for Federal Student Aid (FAFSA), which can be completed online and is also available from your high school counselor or college financial aid office. This form must be submitted prior to the determination of the specific federal student loan amounts for which you are eligible. CLICK TO COMPLETE YOUR FAFSA ONLINE NOW

An Introduction To The Federal Student Loan Application Process Your financial aid package is likely to include funds from federal student loan programs and other government-backed offering, and these programs are administered by the U.S. Department of Education. A Central Resource For Federal Student Loan Information: Basic Types Click on the links below to learn more about the various types of federal student loans and other forms of financial assistance available from the government, for the purpose of education. Federal Pell Grants Federal Supplemental Educational Opportunity Grants (FSEOG) Federal Work-Study Federal Perkins Loans Federal Stafford Student Loans Federal Parent PLUS Student Loans Federal GradPLUS Student Loans Federal Student Loan Consolidation Loans Your Resource for Education Loans For all types of financial aid information and access to student loan lenders, Studentloans.com is a reliable resource. Research the full scope of student loan options available to help finance your education, and click here to find a lender and apply today!

Student Loan Calculator

Calculating your current expenses and income, including financial assistance outside of student loans is key to obtaining the right student loan. You should review your expenses just to see the significance of your debt.

Click the link below to help you with your calculations!
http://apps.collegeboard.com/fincalc/sla.jsp

Remember, you only have 10 years to pay back federal loans!