STUDENT LOAN CONSOLIDATION PROGRAMS
Student
Aid Centers understands that you may want to simplify
your payments by consolidating your student loans.
Student Aid Centers> prides
itself on having knowledgeable student loan counselors
ready to answer your questions about student loan
consolidation.
With
fixed rates as low as 4.5%, approvals in just seconds,
no prepayment penalties, and no credit checks, we make
it easy to consolidate your student loans into one easy
payment that can reduce your current monthly payments by
as much as 60%!
Our
Educated Student Loan Counselors can answer any other
questions you may have, but from our experience we find
these questions below are some of the most frequent
questions asked by those seeking to consolidate their
student loan debt.
Some of the
rules and procedures may seem involved, which is why we
encourage you to speak with one of our Student Loan
Counselors. Ask us about how
you can reduce you fixed
rate by 1.25% on your
consolidation loan. Call
us today at 1-888-947-2356
Knowing that the cost of education is rising faster than the rate of inflation, the Federal government created the student loan consolidation program to help students and their parents repay their loans affordably. Instead of having to pay off multiple federal student loans, a Federal consolidation loan repays some or all of your outstanding federal student loans - and you pay just one sum each month. (Please note: all federal student loans are not eligible for the Federal consolidation loan.
Please contact our Educated Student Loan Counselors at 1-888-947-2356 to see if your student loan(s) qualify.)
Need Help? Have Questions?
Call one of our Educated Student Loan Counselors now at 1-888-947-2356
With maximum limits far greater than federal consolidation loans, consider learning about this consolidation alternative.
Learn More...
All
of the following must be true to qualify for a federal
consolidation loan:
-
You have graduated, left school, or
are currently attending school less than half time
-
Your loans are in repayment,
deferment/forbearance or in grace
-
You have at least $10,000 in eligible
student loans you want to consolidate
-
You do not have a Federal
Consolidation Loan application pending with another
lender
-
Federal and Federal Direct Stafford
(subsidized and unsubsidized)
-
Federal and Federal Direct PLUS
-
Supplementary Loans for Students (SLS)
-
Federal Perkins
-
Federal Nursing Student Loans (NSL)
-
Federal Health Education Assistance
Loan (HEAL)(Eligibility varies by loan servicer)
-
Federal Health Professional Student
Loans (HPSL)
-
Health Professions Student Loans
(HPSL)
-
Loans for Disadvantaged Students (LDS)
-
Federal Insured Students Loans (FISL)
-
Federal Consolidation Loans
-
Federal Direct Consolidation Loans
Need Help? Have Questions?
Call one of our Educated Student Loan Counselors now at 1-888-947-2356
You have choices when it comes to consolidating your student loans. We are committed to providing you with more than just student loan money. We pride ourselves in being a trusted resource for those seeking student loans, student loan consolidation, career help, and continuing their education. Our trained Educated Student Loan Counselors are ready to help you every step of the way.
To consolidate your student loans you must have an outstanding balance of $10,000 in eligible student loans.
The interest rate on the consolidation program will be a fixed rate for the entire term equal to the weighted average interest rates of your federal consolidated student loans rounded up to the nearest 1/8% not to exceed 8.25%. Generally, your repayment term is extended which makes your monthly payments more affordable.
Student
Aid Centers offers special programs that reduce your
interest rates if you sign up for direct debit (.25%
off) and make your payments on your consolidation loan
on time (1% off).
Call an Educated Loan Counselor at 1-888-947-2356 for more details on how to lower your payments.
No. Your lender pays the fee, not you.
No credit checks are required to consolidate your loans.
Yes! You can always prepay your loan with no penalties.
Need Help? Have Questions?
Call one of our Educated Student Loan Counselors now at 1-888-947-2356 .
To find out if a judgment has been made in the case and if you're eligible to reconsolidate, please contact our Educated Student Loan Counselors at 1-888-947-2356.
You can not reconsolidate if
you've consolidated all your student. If you have any
student loans that have not been consolidated please
check, you may be to qualify to consolidate
again.
To find out if you can please contact our Educated Student Loan Counselors at 1-888-947-2356.
Student Aid Centers likes to reward those who make timely scheduled payments (within the first 15 days of the due date each month) on their new consolidation loan. If you pay your loan on time, Student Aid Centers will automatically reduce your interest rate by one full percentage point and leave it there as long as you continue to make on-time payments. See how to get even lower payments below!
Need Help? Have Questions?
Call one of our Educated Student Loan Counselors now at 1-888-947-2356
Yes! And if you pay your
student loan electronically (direct debit payments from
your checking or savings account), you can reduce your
interest rate by an additional .25 of a percentage
point, as long as you continue to make your payments
electronically.
Then you're in luck! Student Aid Centers will combine the incentives and reduce your interest rate by 1.25%. This will allow you to save a lot of money, that you wouldn't have had otherwise!
Depending on the outstanding balance on your federal student loans (even those you may wish to leave out of the consolidation), you have up to 30 years to repay your student loans. The examples below show you how long you have to repay your consolidated student loans:
Outstanding balance |
Maximum term |
$10,000 - $19,999 |
15 years |
$20,000 - $39,999 |
20 years |
$30,000 - $39,999 |
25 years |
$40,000 - $59,999 |
25 years |
$60,000 or more |
30 years |
Remember, you may always pay off your consolidation loan early. There are no prepayment penalties.
We have repayment options to fit the needs of each individual. Choose which is best for you from the programs explained below. You can switch your repayment option later if your financial situation changes. For further details, please contact our Educated Student Loan Counselors at 1-888-947-2356.
Level Repayment Plan: This student loan consolidation program is the least expensive option, and your payments are fixed over the life of the loan. You repay a portion of all the principal and interest each month. |
Graduated Repayment: This student loan
consolidation program can offer you the
opportunity to reduce your payments by more than
50%. Small, interest-only payments are
required at the beginning of repayment.
Larger payments are required later (when you may
be in a better position to afford them). Two and
four year Graduated Repayment Plans are
available. |
2 Year Graduated Repayment Plan: This student loan consolidation program offers interest-only payments for the first two years, followed by level payments for the remainder of the loan. |
4 Year Graduated Repayment Plan: This student loan consolidation program offers interest-only payments for 2 years followed by 2 years of payments that include interest and a portion of principal, followed by level payments for the remainder of your term. |
Extended Repayment: This student loan consolidation program extends repayment up to 25 years, if you have balance between $30,000 and $39,000 in eligible student loans.
**Programs may vary depending on
lender.Please make sure you ask our Student Loan
Advisers about your options when you
call. |
Need Help? Have Questions?
Call one of our Educated Student Loan Counselors now at 1-888-947-2356
No, you
can keep your payments and terms the same. Remember,
there are no prepayment penalties. You are free to
pay off your loan whenever you like. Upon
origination, your term will be determined by loan
size. Should you want to pay your loans off early,
contact your loan servicer for a payoff amount?
Yes. Our Educated Student Loan Counselors can provide you with answers and a copy of the Federal Consolidation Loan Deferment and Forbearance Benefits page which gives you a complete description of deferment and forbearance eligibility rules.
You are eligible for a further reduction of
your consolidation loan interest rate of .6% when you
apply for student loan consolidation during an
authorized grace or deferment period. During
these periods, the Stafford loan
interest rate is .6% lower than during active
repayment.
Click here to apply online or call our Educated Student Loan Counselors at 1-888-947-2356.
Unfortunately, no. You must begin repayment within 30 days once your consolidation loan has been funded.
If you're eligible for interest subsidies on your underlying Stafford student loans you'll continue to receive subsidy benefits on the part of the consolidation loan that repays the original subsidized Stafford student loans.
Defaulting on a student loan will not necessarily be held against you. But, you must make satisfactory repayment arrangement to your lender or guarantor prior to applying for loan consolidation.
Yes. You can still consolidate your student loans even if you have bad credit. There are no credit checks and no co-signers required for federal student loan consolidation.
Need Help? Have Questions?
Call one of our Educated Student Loan Counselors now at 1-888-947-2356
The process involves getting payoff information from your lenders and reviewing your application for completeness. If everything is in order, we then disburse your new consolidation loan. The entire process can take as few as 30 days or as long as four months, depending on the circumstances. You can call our Educated Student Loan Counselors at any point throughout the procedure to learn the status of your consolidated loan.
Yes! You must continue to make regular monthly payments on your student loans because if they become delinquent or go into default, your consolidation loan will be delayed.
Student Aid Centers loan provider will send you a statement containing all the information you need - including information about our rate-lowering direct debit program - when your student loans are consolidated.
You may still consolidate your student loans as long as the loans you wish to consolidate are eligible loans. If you are in graduate school, you can consolidate your undergraduate school loans. If you're in a post-graduate program, such as medical school or law school, you may be able to consolidate your undergraduate and graduate school loans.
Ask one of our Educated Student Loan Counselors how you can consolidate both undergraduate and graduate loans into one payment. Consolidation also allows you to lock in a low interest rate, cut your payments by more than half and let you make a single payment for all your eligible student loans.
Yes you can. Consolidation will let you lock in a weighted rate of 6.125% on your PLUS loans for life. And, with Student Aid Centers consolidation program, on time payments and automatic payments means further rate reductions to as low as 5.125%. If you need to borrow PLUS funds again, you will be eligible to reconsolidate your consolidation loan with your new PLUS loans
A
Lender Code is a 6-digit identification number assigned by the U.S. Department of Education to lenders that participate in Title IV higher education loan programs. Financial aid offices must have the lender code in order to process a Stafford or PLUS Loan.
Student Aid Center makes it easy for you to apply with 3 options. To apply you can:
A. Complete the Student Aid Center's Secure Online Application with E-Sign. Approvals can be as quick as 60 seconds.
B. Call an Educated Student Loan Counselor at 1-888-947-2356 and we will guide you through the application over the phone, discuss options and answer any questions you may have.
C. Simply click on Apply Now button or download an application. Complete the application and mail it or fax it to us. Note: Applications sent by mail will take longer for approval and funding.
The entire application process only takes about 15 minutes to complete (if you have all your paperwork on the loans you wish to consolidate).
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