Student loan consolidation is basically a process of merging several private student loans from different companies and banks into a single loan. To meet the expenses of a college education, a student usually borrows approximately $10,000 at an average interest rate of 6 to 8 percent from the federal government and private financial institutions. Over time, as the debt accumulates, the student typically finds it difficult to manage the payments of all the student loans that he has accumulated while he was in college. That’s where the need of student loan consolidation comes into play. The Federal Loan Consolidation Program makes student loan repayment more manageable by allowing you to bundle your existing variable-rate federal loans into a single, fixed-rate loan-at unprecedented rates as low as 4.5%. It costs nothing to consolidate, and this site makes it easy with a fast, online application. Get Student loan free quote from our service and see best deals with maximum discounts for your loan.

You can apply to consolidate your school loans up to six months before graduation, during the grace period, or any time after graduation. If you indicate a grace period on the application we will set up your funding to maximize your grace period. If you are past the grace period and in repayment, you can consolidate your education loans at any time.

Your new interest rate is calculated as the weighted average of the interest rates of the loans you choose to consolidate, rounded up to the nearest 1/8th of one percent or 8.25%, whichever is less. The benefits of this site over another one come down to two key things: the borrower benefits which can further reduce your interest rate and our friendly customer service you can rely upon.

Why consolidate student loans? Here are a few of the many benefits most student loan borrowers may enjoy by consolidating their student loan debt, far beyond the convenience of one simple loan and one monthly loan payment.