Menu
Financial Aid Books
What is Loan Consolidation
When to Consolidate
Why Should I Consolidate
Current Loan Rates
Stafford Loan ............
6.80%*
PLUS Loan ................ 8.50%*
Loan
Consolidation ..6.375%*
*subject to change
Additional Resources
Welcome to the School Loan Consolidation Network
FREE Information about School Loan Consolidation!
There are hundreds of websites that deal with school loan consolidation and student loan debt, but in reality, most of them are trying to sell you a loan, or make you complete a loan application to access their information about school loans. Not us! We have the largest compilation of free information to help you make the right choices about consolidating your school loan. Research the various types of loans. Learn how to apply for a school loan, discover a few of the secrets about loan discounts and how to combine your current loans into a single, manageable school loan. Find out how to lower your monthly payment and your interest rate at the same time. Please enjoy the information provided on the site, and bookmark us for future use.
What is a School Loan Consolidation?
|
School loan consolidation is the process of taking your current school loans, and paying them off with one new consolidation loan. Students who have gone to school for 4+ years, and received Federal student loans will have amassed a large, deferred loan balance by the time they graduate. In many instances, several types of loans will have been used, with various interest rates and monthly payments. A school consolidation loan pays off all of these loans, and gives you one, easy payment to a single lender.
- Reduce your monthly considerably.
- Locks in your interest rates
- Simplifies your finances by having you make only one payment a month
- Improves your credit rating
- Saves you money today when you need it most
- Provides flexible repayment options
About Loan Discounts
Many lenders offer loan discounts to encourage borrowers to obtain their education loans from them. The most common loan discounts include a 0.25% interest rate reduction for having your monthly loan payments direct debited from your bank account and a 1% interest rate reduction after 36 months of on-time monthly payments for as long as you continue making on-time payments. Click here to find out more about loan discounts.