EdFed: Student Loan Consolidation

Loan consolidation is the channel through which you can bring all your loans under one single policy and reduce the monthly payments by increasing the duration of the loan. Consolidation has loads of benefits, some being:

• Lower rate of interest
• Locking in loans at a lower interest rate
• Lower monthly payments
• Worrying about just one loan instead of many
• Longer repayment schedule

Bear in mind that we are talking specifically about student loans. There is consolidation available from other type of loans too, but at EdFed we deal with only your student loans.

The logic behind consolidation is simple. consolidation merges all your loans and bills into one single payment. It reduces your (the borrower's) monthly bill of loan repayment. In simpler terms, think of it this way: If you have to pay $100 in 5 years, you pay $20 every year (ignoring any interest component), and if you have to pay the same $100 in 10 years, you pay $10 every year. And in certain cases, the monthly payment burden gets reduced, and the loan payment period also doesn't get increased. This is what consolidation does; it reduces your monthly expenditure on loan repayment and gives you that extra cash in hand.

Read more about EdFed's student loan consolidation here...

EdFed: Seven flexible repayment plans

EdFed offers seven different repayment plans for your consolidation loans, giving you extreme flexibility for your repayment. We offer the following plans:

Equal Payments: This option provides equal monthly payments over the term of the loan.

Select 2/Graduated Payments: This option allows for interest-only payments for the first 2 years of repayment. In the third year, payments increase to level installments of principal and interest payments for the remaining term of the loan.

Select 5/Graduated Payments: This option allows for interest-only payments for the first 2 years of repayment. In the third through fifth years, payments increase to include a portion of principal. In the sixth year, payments increase to level installments of principal and interest payments for the remaining term of the loan.

Income-Sensitive Payments: This option provides for payments to be adjusted annually, based on your expected total monthly gross income from employment and all other sources. Your account will initially be disbursed at the Select 2/Graduated repayment plan. After the consolidation loan is disbursed, you must contact your servicer to qualify. Once eligibility is determined, your servicer will calculate your new payment.

Read more repayment plans at Edfed.com

EdFed: Federal Loan Consolidation

Federal loan consolidation allows you to consolidate your outstanding federal education loans into a single new loan, even if your loans are currently held by more than one lender and are of different loan types. By consolidating your student loans, you can significantly lower your monthly payments by lengthening the term of your loans and locking in a low fixed interest rate. Most importantly, you can save thousands of dollars during the entire repayment term.

Additional Federal Loan Consolidation Benefits: Fixed rates as low as 6.75% Extended repayment term with lower monthly payments No fees No credit checks No prepayment penalties Seven flexible repayment plans Turn several monthly payments into one Deferment and forbearance available

Fixed rates as low as 6.75%

By locking in the current low rates, you can lock in a fixed rate as low as 6.75%!

Know more about this topic at Edfed.com

EdFed: America's Top Student Loan Provider

EdFed is dedicated to assisting students and graduates with financing their college expenses and managing their education loans. We specialize in education lending, and we are dedicated to ensuring your loans are handled professionally while offering you money-saving benefits.

If you graduated in 2009, or if you will be graduating within the next few months, we would like to congratulate you for obtaining your hard-earned degree. Also, we would like to provide you with some very important information regarding federal student loan consolidation. You must consolidate during your grace period to avoid an interest rate increase of 0.60%. If you wait until your grace period ends, your interest rate will automatically be 0.60% higher. When you consolidate during your grace period, you will have no payments due until your grace period has ended. You have nothing to lose. There really is no reason to pay this higher rate on your federal student loans!

With student loan consolidation, you can lock in a low, fixed interest rate for the life of your loan--and there are no fees, credit checks, income verifications, or prepayment penalties. This will help you reduce your monthly payments by nearly 50% and save you thousands of dollars over the life of your loan.

read more about EdFed in this site: http://www.edfed.com/