Consolidate Student Loans and Save

Consolidating your student loans can be a very wise choice for many people. The chance of consolidating your student loans could mean smaller payments, less interest, and less time necessary to pay on the loans. A key important thing to remember is you can only consolidate federal student loans with other federals student loans and private student loans with other private student loans. There are a lot of details that go into many of these consolidation companies. Some even punish for paying off too early or too late. They can tack in hidden fees pretty easily and you can be stuck in a situation that is actually worse than better. To see a complete list of private student loan consolidation companies visit

Federal Student Loan Consolidation

A federal student loan consolidation is a fixed-rate consolidation loan which combines all your current government student loans into one loan. With a federal student loan consolidation it is completed based on need not credit so no credit checks are done.

Federal loans which can be consolidated include…

  • Stafford Loan
  • PLUS Loan
  • Direct Loan
  • Perkins Loan
  • HEAL Loans
  • FFELP Loans

Private Student Loan Consolidation

A private student loan consolidation is when you take your separately held student loans and bring them together into one privately held student loan. This loan will have a longer repayment term and thus lower your monthly payments.

When you get a private consolidation loan there will be a credit check. This is the main difference between a federal consolidation and private consolidation, when you get a federal consolidation they do not require a credit check.

A private student loan consolidation can be a significant help to bringing your student loan costs into something that is manageable.

For more information on Private Student Loan Consolidation – click here

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