Federal Student Loan Consolidation
A federal student loan consolidation is a product subsidized or guaranteed by the United States Department of Education. It allows a student who has graduated college, or who is no longer in college (without a diploma), to consolidate existing student loan debt.
The benefit of a federal student loan consolidation is that it extends terms of repayment from 10 years to 15 or 25 years, depending upon the loan amount. The larger the federal student loans, the longer the repayment terms. A federal consolidation may also reduce the borrower's interest rate. It is a fixed rate, not an adjustable. There is no cost to the borrower, nor is there a prepayment penalty for a federal student loan consolidation.
There are only two types of student loan consolidations. One is the federal variety (known in the trade as a "FedConsol"), and the other type is a private student loan consolidation, which is exactly what it sounds like, a consolidation of private student loan debt, not federal student loan debt.
Why should you come to us for your consolidation?
First, we assign a student loan consultant to you, and you will deal only with that one person throughout the transaction. Your student loan consultant will be able to handle any questions or concerns. This can save you a lot of time and headaches. You won't need to deal with a different person each time you call us, which means you won't need to explain your situation repeatedly. There is a reason we are called Simple Student Loan Consolidation.
Secondly, our rates and benefits are the most competitive in the federal student loan consolidation industry. You won't find a better deal anywhere.