What is a Student Loan Consolidation?

Student loan consolidation was introduced by the United States Government to ease the burden of paying back student loans. The program is easy and does not require a credit check.

Why consolidate with this program?
This student loan consolidation program is one of the most competitive rewards packages in the industry. By consolidating your loans you can reduce your interest rate up to an additional 1.25%. Here's how:

• 25% rate reduction for payments automatically withdrawn from a checking account.
   
• .5% rate reduction after 48 on-time payments with a loan balance between $20,000 and $50,000.
   
• 1% rate reduction after 48 on-time payments with a loan balance over $50,000.

Additionally, if you consolidate during your grace period, your interest rate will be 0.6% lower than if you consolidate after your grace period. That means if you have just graduated you should consolidate your loans as soon as possible.