How Federal Student Loan Consolidation Can Benefit You!

Federal Student Loan Consolidation offers many benefits to those who need help making the payments to their existing federal student loans. Federal student loan interest rates are currently at their lowest and by consolidating you can get a fixed interest rate which is locked in for the duration of your loan.

Through a FFEL loan you consolidate several loans with various repayment schedules into one loan, similar to a consolidation loan. One example is if you combine both private and federal loans you can lose out on the interest tax deduction benefit you get with your federal student loans.

So now that we’ve identified the points to consider, the following is a basic list of some student loans that are eligible to be consolidated: PERK – Federal Perkins Loans, formerly Nations Defense/National Direct Student Loans (NDSL), PLUS – Federal PLUS (Parent) Loans, SCON – Subsidized Federal Consolidation Loans, UCON- Unsubsidized Federal Consolidation Loans, SLS – Federal Supplemental Loans for Students (formerly Auxiliary Loans to Assist Students (ALAS) and Student PLUS Loans), SS – Subsidized Federal Stafford Loans & Guaranteed Student Loans (GSL), DSS – Direct Subsidized Stafford Loans, DUS – Direct Unsubsidized Stafford Loans, DPLUS – Direct PLUS Loans, DUCON – Direct Unsubsidized Consolidation Loan, including Direct PLUS Consolidation Loans. Federal student loan consolidation is a worthwhile option and can help to lift your student loan burdens. By Rob Hickey

Federal Consolidation Student Loan – For A Trouble – Free Student Life
By Ricky Lim

The federal government student loan consolidation program will consolidate together all the loans of the student into a single student consolidation loan and reduce the hassle of payment to multiple lenders.

Learn More About Federal Consolidation Student Loan

There are several financial institutions providing federal consolidation student loan and the student can simply choose the best among them. Sallie Mae, one of the government institutions, claims to make available the best rates possible for student loans. Like each loan option, the federal consolidation student loan does have a drawback. The repayment of federal government student loan consolidation can be of two types – income repayment and graduated repayment. That is to say, repayment is increased with the increase in income.