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What is Loan Consolidation
When to Consolidate
Why Should I Consolidate
Which Loans are Eligible
Stafford Unsubsidized Loan
Stafford Subsidized Loan
Signature Student Loan
Perkins Loan
Community College Loan
Tuition Answer Loan
Poor Credit Student Loans
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
Perkins Loan!
The information below will help you compare the different types of student loans available and also show you the various options when deciding to do a school loan consolidation. This information can also be found on the SallieMae.com website.
Qualification requirements
- Enrollment in an eligible school at least half-time in a degree program
- U.S. citizenship, permanent residency, or eligible non-citizen status
- Satisfactory academic progress
- No unresolved defaults or overpayments owed on Title IV education loans and grants
- Satisfaction of all Selective Service requirements
The U.S. Department of Education provides a programmed amount of funding to the school. In turn, the school determines which students have the greatest need. The school combines federal funds with some of its own funds for loans to qualifying students.
To apply for this loan program, you must submit the Free Application for Federal Student Aid (FAFSA).
Your school will pay you directly (usually by check) or apply your loan to your school charges. You'll receive the loan in at least two payments during the academic year.
Perkins loans share many of the characteristics of subsidized Stafford loans. The most notable differences are no fees and a longer grace period.