Federal Student Loan Consolidation
By Matthew Kelly
There are many benefits to a student consolidation.
•Reduces your monthly payment up to 60%
•Locks in your interest rates- protecting you from future increases.
•Simplifies your finances by having to make only one payment each month.
•Improves your credit rating.
•Provides flexible payment options.
•No prepayment penalties
In addition competing consolidation lenders offer repayment incentives which will save you money.
Who is eligible for student consolidation?
There are very few requirements to qualify for federal student consolidation. The following requirements are the basis for eligibility:
•You must have more than $10,000 in outstanding federal student loans.
•You must be finished with school or taking less than 6 credit hours and attending classes.
•You can not consolidate any defaulted federal student loans until they have been repaired.
In addition, consolidation loans are easy to get.
•You do not need to be employed.
•You do not need to have any form of collateral.
•You do not need a cosigner.
•You do not need to have good credit.
Even Parent PLUS loans can be consolidated! You can combine the loans for
all of your children into one easy payment.
Speak to a knowledgeable counselor today and find out if consolidation is right for you.
Federal Education Services is a company that specializes in federal student consolidation, Stafford origination, PLUS and Graduate PLUS origination and as a resource for students with questions regarding educational financing. For any questions regarding this article please contact Federal Education Services. A friendly specialist can be reached at (877) 222-4727 or you can find us on the web at www.feded.net.
