You could reduce the amount of your monthly payments by hundreds or even
thousands of dollars a year by consolidating your student loans. You may lower
your monthly payments, capture a low interest rate, conveniently make payments
to just one lender, and for most borrowers, retain all of your student loan
benefits - all at no fee to you, and without a credit check. In addition
to a possible reduction of your monthly payment, you can also avoid all future
variable rate increases resulting from Federal Government rate changes.
Under the Higher Education Act as currently authorized by Congress, you may be
entitled to a reduction of up to 51% of your Federal student loan payments. In
addition to a possible reduction of your monthly payment, you can also avoid
all future variable rate increases resulting from Federal Government rate
changes. Call the Student Loan Consolidation Center at
800-686-1248
to lock in a low fixed rate today!
Benefits of the Federal Consolidation Loan
Make One Convenient Payment - Make one monthly payment through one lender. It
couldn't be easier.
Retain many of Your Federal Student Loan Benefits - Retain many
of the pre-existing benefits available with your initial student loan,
including deferment and forbearance options, and loan forgiveness in the event
of death or total and permanent disability.
(May not apply to Federal Perkins loan)
Take Advantage of Unique, Personalized Service - Work with one Loan Counselor
through the entire process. Let our trained staff provide the information you
need to make an informed decision.
No Fee Required. There is no fee to apply and consolidation may
reduce the amount of your payment every month.
Possible Tax Deduction - Deduct a portion of your consolidation loan interest
on your federal income tax return, if you qualify. Visit the
IRS Site for detailed information.
Apply now online or call us at 800-686-1248. We'll help you
identify your current lenders and loan amounts, complete your application,
estimate your payment amount, and answer all your questions.
What is a Federal Consolidation Loan and is it For Me?
A consolidation loan allows a borrower to refinance one or more variable
interest federal education loans into one new fixed rate loan. The original
loan is paid in full and a new loan is originated by Student Loan Consolidation
Center.
Who is Eligible?
Anyone who has eligible federal education loans who wants to lock in a low,
fixed interest rate will benefit from consolidation. Must meet our minimal loan
balance requirements and the federal student loan must not be in default.
Interest Rates and Fees
Interest rates are fixed for the life of the loan. They are based on the
weighted average of the interest rates of the loans being consolidated rounded
up to the nearest 1/8th% or 8.25%, whichever is less. There are no loan fees.
Repaying Your Federal Consolidation Loan
You may choose from three repayment options to find the one that best fits your
unique financial situation.
