| As a student you may have taken more than one | | | | can avail a maximum repayment term between 10 |
| loan from the government for your education. You | | | | and 30 years depending on the amount of your loan. |
| can combine all the loans together and make it as | | | | 2. You can make a very handy one single repayment |
| one loan. You can also combine loans that you got | | | | every month. There are no fees or any credit checks |
| from the government and any private student loans | | | | involved in this process. |
| as well. | | | | 3. You can combine both your subsidized and |
| A student loan consolidation is a tool used by many | | | | unsubsidized loans together. These will be |
| loan companies as well as the government today by | | | | consolidated as two separate loans by which you can |
| which you can refinance and consolidate all your | | | | easily monitor, but will be combined and you can pay |
| school loans. Recent studies reveal that any student | | | | only one repayment every month. |
| who graduates from college in 2009 has about | | | | 4. You can fill out an online application for this loan |
| $23,000 in student loans. | | | | consolidation and you will have to just submit a |
| Government Student Loan Consolidation | | | | promissory note and a introduction letter. One you |
| A government student loan consolidation is done by | | | | submit all necessary details the process gets over in |
| the Federal Student Aid and also known as Federal | | | | about 60 to 90 days. |
| student loan consolidation. As a student you may | | | | 5. When you are trying to continue your education |
| have taken more than one loan from the | | | | further this option will be very helpful as you can get |
| government for your education, you can combine all | | | | new and different repayment options and a longer |
| the loans together and make it as one loan. You can | | | | repayment term. The minimum qualifications for |
| also combine loans that you got from the | | | | consolidation is that you must have more than one |
| government and any private student loan as well, but | | | | federal loan and you should be either still in your six |
| you may lose the advantages that come along with | | | | month post graduate grace period. You should have |
| the Federal loan. | | | | made three full monthly payments on time for each |
| Advantages | | | | of the loans that you want to consolidate. |
| 1. The main advantage is that when you consolidate | | | | Government student loan consolidation has a fixed |
| you can get an extended repayment term and the | | | | interest rate, not like other varying interest loans, the |
| interest rates of federal loans may be slightly lower | | | | best thing for you is to wait and watch, pick up the |
| than the combined interest rate that you paying right | | | | right moment when the rates are low and make a |
| now. Moreover by getting a longer repayment term | | | | move to consolidate your student loans. |
| your monthly payment will naturally become less. You | | | | |