Federal Consolidation Loan – Frequently Asked Questions

Because the federal loan consolidation?

For most people, for the quality of federal government funding of education, a large percentage of their combat tour even more to come in.

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consolidation loan federal grants extensions of time and unifications:

* Stafford Loans
Besides loans **
*** Federal Perkin loans in a loan.

term extensions are between 10 and 30 years. That is, a lighter monthlyRefunds for the student, even if he paid the total amount of the loan during the loan is higher than would be paid if they had been separated in individual Each other.

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So, where you use the services of federal loan consolidation?

In the U.S., there are two institutions have the goal, are the Federal Family Education Loan Program, Ministry DFLP (FFELP) and the Federal Direct Student Loan Program ()

Whatis the interest?

A major advantage of loan consolidation federal student loans fixed rate than normal.

In particular, here are the numbers:

The fixed interest rate is a weighted average lending rates charged to consolidated, assigning relative weights according to the amounts borrowed, rounded up to 0.125% and a maximum of 8.25%.

* Stafford Loans interest rate reductionloan rates (compared to the typical private loans) is only offered to the brightest

Add accredited U.S. universities that meet the stringent eligibility requirements, may

** PLUS loans – loans offered to parents of students in post-secondary institutions qualified programs

*** Federal Perkin Loans – is a training needs of students with loans offered by the UP Department of American college students to helpFinance their post-secondary education.

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