| CLICK HERE to consolidate your Consolidate federal | | | | Direct Loan Program ( FDLP ), commonly called Direct |
| Student Loansthe price of higher education continues | | | | Loans. With this particular program, rather than the |
| to rise. Student Loan Consolidation is multiple loans | | | | govt. or a personal company, the U.S. |
| combined into one loan. The U.S. Loans to help | | | | The Perkins Loan is a consolidated loan provided by |
| scholars pay for their further education. By paying | | | | the U.S. Department of Education for college kids. It |
| one loan they're paying one creditor. | | | | has a fixed rate of interest of five percent for a 10 |
| Fed. student loans are provided by the U.S. The | | | | year repayment period. The loan limits for |
| Federal Direct Student Loan Program ( FDLP ) and | | | | undergraduates are $5,500 per year with a life-time |
| Fed Family Education Loan Program ( FFELP ) have | | | | maximum loan of $27,500. For graduate scholars, the |
| been developed to help scholars and parents | | | | limit is $8,000 each year with a lifetime limit of |
| consolidate their loans. These 2 programs permit | | | | $60,000. |
| scholars to consolidate Plus Loans, federal Perkins | | | | Stafford Loan offers a lower IR but has strict |
| Loans and Stafford Loans. Scholars get lower | | | | suitability requirements and limits. There are subsidized |
| monthly repayments and a longer payment period. | | | | and unsubsidized loans. With backed loans the interest |
| These loans usually provide lower interest rates and | | | | is charged by the central government. For |
| fees. Congress set the formula for the Fed IR. | | | | Unsubsidized loans, the scholars pay the interest. |
| Federal programs give graduates longer repayment | | | | Examples of Stafford loan firms are Sallie Mae, JP |
| periods. A student can have a repayment period | | | | Morgan Chase, Citibank, B. O. A, and Wachovia |
| from ten to 30 years. | | | | Education.a bonus Loan is for oldsters and graduate |
| There are two Programs for federal Loan | | | | scholars. To be eligible for this loan, the parent or |
| Consolidation : | | | | graduate student has to pass the credit check. |
| The Federal Family Education Loan Program ( FFEL ) | | | | Generally rates are higher. This loan permits the |
| was a result of the Higher Education Act of 1965. | | | | parent to use the overall cost of the school fees |
| The private corporations that fund this program | | | | such as tutoring, accomodation. |
| receive aid from the govt. The William D. Ford Fed | | | | . |