Note1: Understanding Consolidation

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• 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

• 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