| What are federal consolidation loans? A proud college | | | | consolidation, she would pay just $343. 88 a month. |
| senior only lacks a few months until graduation day | | | | That is a monthly savings of $226. 92! |
| when her studies will be over. She will walk away | | | | Applying for federal consolidation loans is really quite |
| with her diploma in her hand, ready to step into her | | | | simple. You need to have your 4 digit FAFSA pin |
| new career. Suddenly, the realization hits her. She had | | | | number, the loan details for each federal loan and |
| never really thought about it before. There are a | | | | know which loans you want to consolidate. You will |
| number of student loans that she has to start paying | | | | need to do some research about the different types |
| off right after graduation, and her beginning salary | | | | of repayment plans you can choose from, so you will |
| isn't enough for living expenses plus all of those loan | | | | be ready to select the plan that best suits your |
| payments. What will she do? | | | | individual needs. |
| The simplest way to solve her problem is to | | | | When you consolidate all of your federal student |
| consolidate all of her federal loans into one federal | | | | loans into one loan you can extend your repayment |
| consolidation loan. This kind of loan is a way to | | | | plan from ten years up to thirty years. This will lower |
| refinance all of your existing federal loans into one | | | | your monthly payments considerably, allowing you to |
| fixed-rate loan. | | | | have the money for housing expenses, car payments |
| A consolidation loan is an excellent way to manage | | | | and any career related expenses you might have. In |
| your finances, it provides immediate relief from high | | | | a consolidation loan there are no penalties for paying |
| payments and it provides long range benefits. One of | | | | it off earlier. If you have extra money one month, |
| the immediate benefits is that there are no | | | | you can pay an extra amount and reduce the length |
| application fees, hidden charges or credit checks. | | | | of your loan. |
| By consolidating her federal loans she can save up to | | | | Federal consolidation loans are the answer to the |
| 53% on her monthly payments, making them | | | | financial woes of many graduating college seniors |
| considerably cheaper and easier to take care of. For | | | | who are just entering their new career. When you |
| example, according to StudentLoanConsolidator.com, | | | | make the decision to consolidate your financial loans, |
| if she has $50, 000 in different federal loans, her | | | | you will be able to leave your financial woes behind, |
| monthly payment right now would be $570. 80. After | | | | and begin to enjoy financial freedom. |