Student Loan Consolidation


National Student Loan Consolidation

Just because your student loans are starting to get out of hand does not mean that the world is ending. While the pressure of being able to keep up with your monthly payments may be almost too much to handle, you can take solace in the fact that there are actually a few different options that can help dig you out of your financial hole. One of the best options that you have is made possible through national student loan consolidation programs.

This program grants you the opportunity to decrease your monthly payments by consolidating your student loans with varying interest rates, repayment plans, and lenders into a new, single loan. (It should be noted that you must be in your six month grace period or repaying your loans in order to be eligible).

Here are some loans that you may be able to consolidate: Stafford Loan (subsidized or unsubsidized), Perkins Loan, PLUS Loan, Health Professions Student Loan (HPSL), Health Education Assistance Loan (HEAL), Nursing Student Loan (NSL), Federal Direct Loan Program (FDLP), SLS Loan (formerly ALAS Loans), Federal Insured Student Loan (FISL), and the Consolidation Loan.

It should also be noted that you also have some flexibility in the types of repayment programs that you choose. You can select from repayment plans such as standard, graduated, income sensitive, income based, or, if perhaps if it fits your situation an extended repayment plan and adjust your repayment plan once every year. You can also select different loan periods, such as over 10 to 30 years.

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Student Loan Consolidation Student Loan Consolidation