| Student loan consolidations offer many benefits such | | | | varying financial needs, deferment and forbearance |
| as a low fixed-rate and the convenience of managing | | | | options, and a lower monthly payment. |
| one monthly payment. College is costly, and many | | | | A student loan consolidation isn't for everyone. Some |
| students apply and receive loans from various | | | | people can effectively manage their student loan, and |
| lenders. When the time arrives to payback the | | | | enjoy comparatively low rates and an affordable |
| student loan, graduates may find themselves flooded | | | | monthly payment. On the other hand, if you have a |
| with multiple monthly statements and different due | | | | variable rate student loan that will increase or |
| dates. Fortunately, there is an easier way to handle | | | | decrease, a fixed-rate consolidation offers predictable |
| student loan payments. | | | | payments. |
| Benefits of a Federal Student Loan Consolidation | | | | When to Consolidate a Student Loan |
| A Federal Student Loan Consolidation is available on | | | | The best time to consolidate a student loan is when |
| several loan types such as Federal Stafford, Direct | | | | rates are low. Borrowers with a variable rate benefit |
| PLUS, Federal Perkins, Loans for Disadvantage | | | | when rates fall. However, a drop in rates is |
| Students, Nursing Student Loans, and more. Through | | | | temporary, and borrowers can expect a higher |
| a consolidation program, one or more student loans | | | | future payment. Borrowers should take advantage of |
| are combined into a single new loan. Borrowers enjoy | | | | falling rates and convert their variable rate to a fixed |
| the convenience of dealing with one lender and one | | | | rate. This way, they can enjoy a low rate for the life |
| monthly statement, flexible payment options to meet | | | | of the loan. |