Friday, April 30, 2010

Consolidation Terms

Our college student loan consolidation program can allow you up to 30 years to repay your consolidation loan, depending on the balance of your existing loans. If you extend your repayment period, you will increase your interest expense because you make smaller payments over a longer period of time. However, you can always consolidate to extend your repayment term and then pay your loan off early if you so wish. We do not charge prepayment penalties in our college student loan consolidation program, so there is no penalty for premature payment. To take advantage of a 30-year repayment period, you must have a minimum of $60,000 in outstanding education debt.

Read more about the terms here...