Control Panel
Home Page
Return
current location:
Debt Consolidation Center
... Student Debt ...
Quick Reviews: Note 1
...
Quick Reviews
view more savings
quick summary notes
get the facts
about the in-grace discount
Product Information
reduce monthly payments
lock-in fixed rates
get single monthly billing
view added incentives
see if you qualify
Financial Tips
(links to our financial center)
lower your monthly bills
tips to increase income
selecting new award card
build a family budget
more financial tips
Planning Guides
(links to our life-event center)
home buying-selling guide
moving-relocation guide
home improvement guide
more life-event guides

 

Note1: Understanding Consolidation

Should You or Should You Not Consolidate Your Student Loans

Directory: (individual note opens new page)
Note 1: understanding the pros and cons of consolidation
pros of consolidation   (links jump to content below)
cons of consolidation
Note 2: becoming eligible for student loan consolidation
Note 3: getting the paperwork ready
Note 4: how and where to consolidate your student loans
  APPLY: start your application: it's FREE -- done in quick time
  email this page to a friend
  print this Student Consolidation summary booklet

you will be connecting to our affiliated sites within the
SayPlanning / SayLending network

The Pros of Student Loan Consolidation

Benefits of Consolidation

  • Lower Monthly Payments
    reduce your overall monthly payments from 25% or more depending on the amount that you consolidate — plus lower your debt-to-income ratio when you are ready to purchase a home

    estimate your monthly reduction


  • Flexible Repayment Plans
    you can choose from several different repayment plans that make fits your budget as you start your career and grow your income

    review repayment plans


  • Single Monthly Payment
    submit only one payment per month instead of making two or more payments on the different loans you took out over the college years

    view other repayment advantages


  • Fixed Interest Rate
    lock-in your low fixed interest rates during your repayment term

    view current rates


  • Rate Reduction Incentives
    reduce your federal consolidation rate even further with these lender-specific incentives

    incentive information


  • Zero Costs / Zero Obligation to Apply
    • no credit check required
    • no costs to apply
    • no costs to setup your account
    • no worry — your submission will be secured
    • no paper work — you can e-sign and process your application online

    you can begin your application now

The Cons of Student Loan Consolidation

Potential Costs of Consolidation

  • Increased Interest Costs
    understand that consolidating your student loans simply extends the repayment term, which means that you will pay more interest over the life of your loan.

    But note that you can always prepay your loan without any penalties. By paying a little extra each month, you can reduce your repayment term and the total amount of interest paid.

    (download this amortization table to run the numbers)



  • Higher Interest Rate
    understand that the interest rate on your consolidation loan may be slightly higher than the current interest rates on your student loans

    estimate your interest rate


  • Fixed Interest Rate
    your federal consolidation interest rate is fixed — meaning that you won't benefit from future declines in interest rates.

    If rates were to decline further, you can use other consolidation options such as your home equity to payoff student loan balances

    view our Debt Consolidation Site


  • Deferment
    consolidating your federal education loans have fewer deferment, cancellation and forgiveness options than your original loans
Home Buying Site Map

privacy statement | site usage terms | contact us | email page | site map

Copyright 2003-06
StudentLoanConsolidate.com

part of the SayLending.com financial network
all rights reserved

operated by: nBuy Associates

BBBOnLine Reliability Seal

 


earn rebate dollars while shopping
download article: managing rebate credit cards
search rebate credit card programs

 

 

 

Home Buying Site Map