Freequent questions on student loan consolidation
Thinking of consolidating your student loans?
When can a borrower consolidate?
To qualify for a Federal Family Education Loan Program (FFELP or FFEL) Consolidation loan, the borrower must meet the following eligibility criteria at the time he/she applies for the Consolidation loan:
- Be in the grace period or have entered repayment on each loan chosen for consolidation.
- If any Title IV loans being considered for consolidation are in default, the borrower must either make satisfactory repayment arrangements with the holder of each defaulted loan or agree to repay the consolidating lender under an income sensitive repayment schedule.
What is Consolidation?
A Federal Consolidation loan is a repayment option for student loan borrowers. It is designed to make education loan repayment easier by combining existing eligible federal education loans into one new loan with a lower monthly payment.
LoanNetwork.com can help you consolidate your Student Loans today with rates as low as 4.5%
