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It can often be to your advantage to consolidate your federal student loan debt into one loan — this keeps you from having to make multiple monthly payments, and interest rates are currently some of the lowest in history! Loans eligible for consolidation include FFEL Stafford loans, Federal Direct Stafford loans, Federal SLS, Federal Perkins loans, Federal PLUS loans, Federal Health Education loans and, in certain instances, existing consolidation loans.
Initial
Balance |
Standard
10-Year
Payment |
Consolidation
Level Plan
Payment |
Consolidation Graduated Plan Initial Payment |
|
$10,000 |
$102 |
$75 |
$35 |
|
$20,000 |
$203 |
$123 |
$71 |
|
$30,000 |
$305 |
$184 |
$106 |
|
$40,000 |
$406 |
$214 |
$142 |
|
$50,000 |
$508 |
$267 |
$177 |
|
$60,000 |
$761 |
$363 |
$266 |
|
$70,000 |
$1,015 |
$485 |
$354 |
Combine all your eligible education loans into a single loan with a low monthly payment, a payback period of 12 to 30 years, a fixed rate of interest, and money-saving borrower benefits. Click here for Student Loan Consolidation Program. Remember, the longer you take to pay off your loans, the more you will pay in interest. If you repay your loan before the end of your payment period, you can save significant amounts in interest costs.
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