Student Loans |
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It can often be to your advantage to consolidate your federal student loan debt into one loan . this keeps you from having to make multiple monthly payments, and interest rates are currently some of the lowest in history! Loans eligible for consolidation include FFEL Stafford loans, Federal Direct Stafford loans, Federal SLS, Federal Perkins loans, Federal PLUS loans, Federal Health Education loans and, in certain instances, existing consolidation loans. |
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The maximum repayment period on consolidation loans is based on your total education debt, which may include student loans that you are not consolidating. The interest rate is a weighted average of the loans being consolidated, rounded up to the nearest 1/8th of a percent (Typically 8.25% maximum). Remember, the longer you take to pay off your loans, the more you will pay in interest. If you repay your loan before the end of your payment period, you can save significant amounts in interest costs. Category: Student Loans |

