Consolidating law school student loans


18-Aug-2020 03:39

So, for instance: If the average comes to 6.15%, your new interest rate will be 6.25%.

allows you to consolidate (combine) multiple federal education loans into one loan. Direct PLUS Loans received by parents to help pay for a dependent student’s education cannot be consolidated together with federal student loans that the student received.

The result is a single monthly payment instead of multiple payments. Refer to the complete list of federal student loans eligible for consolidation in the application.

Loan consolidation can also give you access to additional loan repayment plans and There is no application fee to consolidate your federal education loans into a Direct Consolidation Loan. Department of Education (ED) or ED’s consolidation loan servicers. Top A Direct Consolidation Loan has a fixed interest rate for the life of the loan.

If any of the loans you want to consolidate are still in the grace period, you have the option of indicating on your Direct Consolidation Loan application that you want the servicer that is processing your application to delay the consolidation of your loans until closer to the grace period end date.

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If you select this option, you won’t have to begin making payments on your new Direct Consolidation Loan until closer to the end of the grace period on your current loans.Here’s how: Federal loan consolidation doesn’t have a credit requirement, and it offers the benefit of a single loan bill and potentially lower payments.But it’s only for federal loans, and it won’t cut your interest rate. We’re on your side, even if it means we don’t make a cent.