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14:00 Student Loan Consolidation |
Student loan consolidation is a practical repayment
tool that combines your student loans into one master loan,
significantly reducing your monthly payment (up to 50% in some cases!).
Federal Loan Consolidation
Consolidating your federal student loans can reduce your monthly payment. You can e-Sign your application online and be finished in minutes.
Private Loan Consolidation
Some private student loan program offers interest rate reductions for on-time and automatic payments and there are no pre-payment penalties.
How much can you save each month?
If you consolidate student loans
right now, you could save hundreds of dollars a month. Here's a quick
chart showing how much you could save on your monthly payments:
| Total Loans |
Current Payment |
After Consolidation |
Monthly Savings |
| $30,000.00 | $345.24 | $229.00 | $116.24! | | $40,000.00 | $460.32 | $277.63 | $182.69! | | $50,000.00 | $575.40 | $347.04 | $228.37! | | $75,000.00 | $863.10 | $488.94 | $374.16! | | $100,000.00 | $1,150.80 | $651.93 | $498.88! |
| Consolidate Your Student Loans! |
|
Savings shown are based on the current Stafford Loan interest rate of 6.8%; borrowers in grace periods, with student loans
other than Stafford (i.e. PLUS or Perkins loans), or with Stafford
Loans older than July 1, 1998, will have different interest rates.
Student Loan Consolidation Blog
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