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Stafford Loan Overview
Federal Student Loan Consolidation Introduction
Federal student loan consolidation with StaffordLoan.com 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
Types of Federal Student Loan Consolidation
Stafford Loan Consolidation
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.
PLUS Loan Consolidation
A PLUS loan consolidation is another form of federal student loan consolidation that allows you to bundle all your PLUS loans previously taken out to finance your child's education, into a single loan with a lower monthly payment. The only restriction is that you must have a minimum of $20,000 in PLUS loans.
Graduate Stafford Loan Consolidation
Similar to Stafford Loan consolidation, graduate Stafford 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 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 Student Loan Consolidation
- Reduce your monthly payment up to 53% and beat inflation
- Apply now and lock in a lower rate for the life of the loan
- Reduce your interest rate 0.6% by consolidating during your grace period
- Make only one loan payment per month
- Improve your credit rating
- No credit checks, fees, or application charges
Example of Monthly Savings
If you consolidate student 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 |
Savings shown are based on the current Stafford Loan interest rate of 6.62%; borrowers in grace periods, with loans other than Stafford Loans (such as PLUS or Perkins loans), or with Stafford Loans older than July 1, 1998 will have different interest rates.
If you have graduated and want to lock in the current, low rates before they change, consolidate your student loans now! Want to calculate your potential savings? Try our Federal loan consolidation calculator!
Not sure how consolidation works? Learn more in this consolidation step by step tutorial.
Testimonials
"The process was quick and convenient, easy to understand, and fast." - Sherry, Stirling Heights, MI
Student Loan Consolidation News (
)
- A Lesser Known Benefit
- Moving On Up!
- Grad School Hesitation
- New Office - Same Great Service
- Consolidation And Medical Residency
- Jargon Glossary
- How Many Times Can I Consolidate???
- Need A Job?
- House Approves Cut In Stafford Loan Rate
- Pick A Plan, Any Plan
Federal Student Loan Consolidation is a practical repayment management option to bundle all of the federal student loans you received to finance your college education into one manageable loan. When your new loan is issued, the lender (us) pays off the outstanding balances of the loans you consolidated. In essence, you refinance your college education debt. We specialize in helping you Consolidate Federal Direct Loans! Loan consolidation isn't just for students, either. Parents can consolidate PLUS loans to save just as much money each month as their kids.
Refinancing can significantly reduce your monthly payment burden by stretching your repayment period from the standard 10 years to up to 30 years, depending on how much you owe. Request a free loan consolidation information packet now and you can lock in a low fixed interest rate!
Call us or apply now:
Federal Student Loans | PLUS Loan Consolidation | Private Student Loans
Can't make a payment because you can't find a job, are going back to school, or some other reason, consider an additional deferment allowing you to put off payments for a specific period of time, after you finish consolidating. For those of you in special fields or working in low income areas, consider Student Loan Forgiveness & Cancellation. Worried about having multiple student loan payments after college? Federal student loan consolidation may be an option for you!
Have questions about federal student loan consolidation?
