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Federal Loan Consolidation

Are you having difficulty managing your monthly student loan payments? Consolidating your Federal Perkins Loan and/or Stafford Loan obligations is a good way to make repayment easier and often can lower your monthly payment(s). In addition, you'll be responsible for just one payment each month (instead of a separate payment for each of your loans) and you may also be able to 'lock in' a lower interest rate.

On the other hand, your new consolidation loan interest rate may be higher, which can result in a greater total amount of interest required to be paid over the life of the loan, especially if you select a longer repayment schedule. However, the benefit of having a lower single monthly payment may outweigh the higher total finance charges.

To determine whether consolidating your student loans is an option for you, click here.

Federal Loan Deferment
Federal Loan Forbearance