| Student loan consolidation is a payment plan that | | | | However, there are also disadvantages when one |
| combines all of your loans into a single loan. It also | | | | avails student loan consolidations. You will be able to |
| allows you to save some money, because | | | | pay the student loan off faster than when you did |
| consolidating all of your student loans lower your | | | | not consolidate your loans. |
| interest rate. | | | | One category you could take into consideration |
| Student Loan Consolidation Is A Simple Process | | | | regarding federal student loans is availing of the FFEL |
| Students on average, borrow around $10,000 in loans. | | | | consolidation loan. This loan program helps any |
| Student loan consolidation gives you many benefits. | | | | borrower via multiple repayment schedules. Through |
| Most payment plans for student loan consolidations | | | | the FFEL loan consolidation program, only one |
| are flexible. There is no payment fee required to | | | | payment is made each month. |
| have you student loans consolidated. The procedure | | | | Again, refinancing student loans depends on the |
| of applying for a student loan consolidation is very | | | | borrower. The United States Department of |
| simple. | | | | Education does not in any way allow any borrower |
| Applicants for student loan consolidation would have | | | | to refinance a student loan consolidation. But if in |
| to continue paying for their existing loans while they | | | | case a borrower has an additional federal loan that is |
| are still waiting for their applications to get processed. | | | | not originally included in the loan consolidation, these |
| Students can even apply online. | | | | debts may then be added and calculated again into a |
| Students can always seek out the assistance of a | | | | another federal consolidation loan. |
| loan councilor to get the advice and evaluation of a | | | | So now that the details and advantages have been |
| loan expert. Student loan consolidation is a great | | | | outlined, the following is a basic list of some student |
| payment plan that helps individuals pay for their | | | | loans that are eligible to be consolidated: |
| educational loans. Student loan consolidation just | | | | PERK - Federal Perkins Loans, formerly Nations |
| might be the solution to your financial problem. | | | | Defense/National Direct Student Loans (NDSL), PLUS |
| Federal Student Loan Consolidation Facts To Consider | | | | - Federal PLUS (Parent) Loans, SCON - Subsidized |
| Federal Student Loans are easier to pay and brings | | | | Federal Consolidation Loans, UCON- Unsubsidized |
| less long term hassle and panic if these debts are | | | | Federal Consolidation Loans, SLS - Federal |
| converted into Federal Student Loan Consolidation. | | | | Supplemental Loans for Students (formerly Auxiliary |
| Consolidating your loan means that all the different | | | | Loans to Assist Students (ALAS) and Student PLUS |
| types of student loans you acquired will be combined | | | | Loans), SS - Subsidized Federal Stafford Loans |
| in one loan. | | | | & Guaranteed Student Loans (GSL), DSS - |
| Since federal student loan interest rates are currently | | | | Direct Subsidized Stafford Loans, DUS - Direct |
| at their lowest, loan consolidation actually means that | | | | Unsubsidized Stafford Loans, DPLUS - Direct PLUS |
| the interest rate used for the whole duration of your | | | | Loans, DUCON - Direct Unsubsidized Consolidation |
| loan is fixed. | | | | Loan, including Direct PLUS Consolidation Loans. |