Stafford Loan Consolidation

Federal Stafford loan consolidation is a great way to help manage your finances. Consolidation is a fixed-rate refinancing program that combines all of your existing federal student loans into one new loan.

Stafford Loan consolidation is a fixed-rate refinancing program that combines all of your existing Stafford Loans into one new loan. Monthly savings from a Stafford Loan consolidation can be as much as 53% from previous student loan payments, providing payment relief when it's needed the most.

To calculate your potential savings, try this nifty loan consolidation calculator.

Graduate Stafford Loan Consolidation

Graduate Student Loan consolidation is a great financial tool for those who have recently completed their graduate program, and are trying to pay off their graduate Stafford and private loans. For those borrowers who have already consolidated their undergraduate Stafford Loans, graduate Stafford Loan consolidation can combine their previous consolidation with their new graduate Stafford Loans.

Benefits of Federal Loan Consolidation

  • Reduce your monthly payment
  • Apply now and lock in a lower rate for the life of the loan
  • Make only one loan payment per month
  • Improve your credit rating
  • No credit checks, fees, or application charges
  • Dept. of Education Borrower Services

Example of Monthly Savings

If you consolidate stafford loans right now, you could save hundreds of dollars a month. Here's a quick chart showing how much you could save on your monthly payments if you had Stafford Loans of varying dollar amounts:

Loan Amount Currently Paying: After Consolidation: Month Savings: Annual Savings:
$15,000.00$171.24$132.32$38.92$467.02
$25,000.00$285.40$220.53$64.86$778.37
$35,000.00$399.56$265.09$134.47$1,613.64
$50,000.00$570.80$343.88$226.92$2,723.02

* Disclaimer: This calculator is provided for informational purposes only. Calculated results are based on many factors, including the assumptions provided by the user. We cannot and do not provide any guarantees, conditions or warranties as to result accuracy or applicability to the user's particular circumstances. It is the responsibility of the user to verify that all of the output and resulting calculations are correct. This calculator should not be used by anyone to make material financial decisions and should be used solely for informational purposes. Actual terms will be set by your lender or your school. We encourage any user to seek personalized advice from qualified professionals regarding all personal finance issues.

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