Benefits of the Direct Student Loan Consolidation

Due to global financial crisis last year, many fresh university graduates are facing problems in making repayment for their multiple student loans. Anyway, it is not the end of the world and they don’t need to file bankruptcy. Direct Student Loan Consolidation allows them to combine all of their existing federal education loans into one new loan. When their applications are approved, they will be enjoying the following benefits: 

· Consolidation is free and additional benefits are provided 

There is no minimum amount required for the students to qualify for this particular loan. The borrowers can still retain their subsidy benefits on their loans. In addition, the students also stand a chance to qualify for renewed deferment benefits. 

· One lender and one monthly payment 

Under the concept of one lender and one monthly bill, it is definitely simpler for the students to manage their debts. All their loans will be lumped in one account and their only lender is the US Department of Education. 

· Flexible repayment options 

There are many flexible repayment options specially designed for the students to meet their different needs and financial situations. They are free to choose from a variety of plans such as standard repayment, extended repayment, graduated repayment, contingent repayment, income based repayment, so on and so forth.  

· Lower Monthly Repayment 

The monthly financial burden of the students is lessening as their monthly repayment is reduced about 50% with the extended repayment period.  

Dear young graduates, if you are struggling in paying back your study loans, direct student loan consolidation is a very welcome option for you.

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